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After the plummet, Donald Trump's project couldn't hold up either: It started altcoin sales! Here's the transaction they made.
World Liberty Financial, a decentralized finance (DeFi) initiative supported by the Donald Trump family, has started to liquidate its Ethereum (ETH) assets after suffering heavy losses exceeding 125 million dollars.
According to Arkham's on-chain analysis, a wallet closely associated with World Liberty Financial sold approximately 5,471 ETH today for about 8 million dollars. Each token was reported to be sold at 1,465 dollars; this signifies a sharp decline from the purchase price of 3,259 dollars recorded at the beginning of the year.
The sale decision came just two months after U.S. President's son Eric Trump described it as "a great time to buy ETH" while the asset was trading at $2,880.
Despite the last sale, the primary wallet associated with World Liberty Financial still holds $98 million in crypto assets and has $11.7 million in ETH left.
Donald Trump also evaluated the current market conditions through the social media platform Truth Social and said today that it is "a great time to buy" as global markets are down due to increasing trade war concerns.
Since Donald Trump's inauguration on January 20, the Nasdaq has lost 20%, the S&P 500 has lost 17%, and Bitcoin (BTC) has decreased by 24%, with significant declines observed in major markets. Memecoins associated with the Trump brand performed even worse: TRUMP declined by 83%, while MELANIA experienced a shocking drop of 95%.