CryptoTrump-backed World Liberty Financial buys AVAX and MNT for...

Trump-backed World Liberty Financial buys AVAX and MNT for $4M as total portfolio losses reach $118M

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Key Takeaways

  • World Liberty Financial purchased $2 million each of AVAX and MNT tokens while experiencing total portfolio losses of $118 million.
  • World Liberty Financial’s portfolio includes 11 digital assets with Ethereum accounting for 58% and $88 million in losses.

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World Liberty Financial (WLFI), the DeFi project backed by the Trump family, on Saturday purchased $2 million each of Avalanche (AVAX) and Mantle (MNT) tokens, while its total portfolio continues to show substantial losses.

According to data tracked by Arkham Intelligence, the entity acquired 103,911 AVAX tokens and 2.45 million MNT tokens after a purchase of 541,783 SEI on Thursday.

WLFI’s investment portfolio now includes 11 digital assets, including Ethereum, Wrapped Bitcoin, Tron, Chainlink, Aave, ENA, MOVE, ONDO, SEI, AVAX, and MNT.

As analyzed by Lookonchain, the crypto venture has invested approximately $343 million in these holdings and is currently facing unrealized losses of $118 million.

Ethereum represents the largest position at 58% of the portfolio, accounting for $88 million in losses.

The latest purchases came after WLFI finalized its $550 million token sale on Wednesday. Eric Trump, the project’s web3 ambassador, signaled future developments after completion.

Recently, World Liberty Financial announced its partnership with the Sui Foundation. The project plans to integrate Sui assets into its strategic token reserve and co-develop products as part of the collaboration.

According to recent reports from the Wall Street Journal and Bloomberg, World Liberty Financial has been involved in discussions with Binance about potential business ventures, including the development of a stablecoin.

However, both WLFI and Binance CEO Changpeng Zhao have denied any concrete business deals or discussions about acquiring a stake in Binance, labeling these reports as politically motivated and baseless.

https://x.com/worldlibertyfi/status/1900592218294862126

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