- TRON and Movement Labs assert $TRX and $MOVE holdings were acquired via standard market transactions.
- WLFI holds significant assets, including Ethereum, USDC, Chainlink, AAVE, TRON, and Uniswap.
TRON and Movement Labs have refuted any $10 million plus token swap deal with World Liberty Financial $WLFI, claiming that their holdings in $TRX and $MOVE were obtained through conventional market transactions, not through private deals. WLFI is a cryptocurrency project backed by President Donald Trump and his family.
Moreover, the on-chain data demonstrates that WLFI holds 40.7 million TRX worth approximately $9.3 million and $2 million in MOVE tokens, both bought directly from the market.
WLFI Denied Token Swap Deal with Tron and Movement Labs
World Liberty Financial denied the report that highlights the Trump-backed WLFI asked other crypto projects to pay $10 million plus a 10 percent fee. In exchange, it would include those crypto tokens in WLFI’s treasury. In return, WLFI would buy the same amount of their tokens.
World Liberty also clarified the whole situation through an X post. It stated that they are not selling tokens, only reallocating assets for ordinary business purposes.
World Liberty has a substantial portfolio consisting of Ethereum, USDC, Chainlink, AAVE, TRON, and Uniswap. As per the on-chain data, the platform holds a $373 million value of cryptocurrencies. Ethereum (ETH) and Wrapped Bitcoin (WBTC) amounts to a major part of its crypto holdings.
In January 2023, they purchased $10 million worth of Ethereum and have been actively involved in the DeFi sector. They launched its DeFi platform before the 2024 U.S. presidential election. By January 20, the World Liberty DeFi platform achieved a milestone of 20 billion WLFI token sales valued at $300 million.
Justin Sun’s support is definitely a big vote of confidence for the platform. However, Mark Cuban and Anthony Scaramucci have been quite vocal in their criticism, calling it a desperate move by Trump.
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