{"id":20888,"date":"2025-02-04T11:54:16","date_gmt":"2025-02-04T09:54:16","guid":{"rendered":"https:\/\/forklog.com\/en\/eric-trump-urges-buying-ethereum\/"},"modified":"2025-02-04T11:54:16","modified_gmt":"2025-02-04T09:54:16","slug":"eric-trump-urges-buying-ethereum","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/eric-trump-urges-buying-ethereum\/","title":{"rendered":"Eric Trump urges buying Ethereum"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Eric Trump recommended buying ETH after a sharp correction.<\/li>\n<li>World Liberty Financial moved $307.41m in assets to Coinbase Prime.<\/li>\n<li>Representatives of Movement Network and TRON denied reports of a \u201cdeal\u201d with WLFI.<\/li>\n<\/ul>\n<\/div>\n<p>Eric Trump, son of the sitting US president, advised buying ETH. A day earlier the Trump family\u2019s firm, World Liberty Financial (WLFI), had increased its exposure to the asset.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In my opinion, it\u2019s a great time to add <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>.<\/p>\n<p>\u2014 Eric Trump (@EricTrump) <a href=\"https:\/\/twitter.com\/EricTrump\/status\/1886541132903133230?ref_src=twsrc%5Etfw\">February 3, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIn my opinion, it\u2019s a great time to add ETH,\u201d the entrepreneur wrote.<\/p>\n<\/blockquote>\n<p>His post came amid a sharp drop in crypto prices, triggered by Donald Trump\u2019s comments on trade tariffs.<\/p>\n<p>On February 3 Ethereum fell below $2,400, a three-month low. Over the next 24 hours it partly recovered and, at the time of writing, trades around $2,720.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXcfLl-tpsR3ZiaVrwAJZCTi_gke0BSJecZgs3ef4t2iM0rhnuKDnimjIQRrvP0xHcdNSo6po4QKCCEj0nWqdb-SmrkbJy7c11EPacXb96UFtn4Y9cHBkgyncZJ_a-vgANqMiLvMcw?key=Y1LiY6pEJ2yiQDdTvIBwi9_C\" alt=\"Trump\u2019s son advised buying Ethereum\"\/><figcaption class=\"wp-element-caption\">30-minute chart of ETH\/USD on Binance: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3AETHUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Is WLFI rebalancing its crypto portfolio?<\/h2>\n<p>According to Spot On Chain, on February 3 World Liberty Financial executed a series of large transactions in its crypto portfolio.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">World Liberty Financial (<a href=\"https:\/\/twitter.com\/worldlibertyfi?ref_src=twsrc%5Etfw\">@worldlibertyfi<\/a>) moved $307.41M in 8 assets to <a href=\"https:\/\/twitter.com\/hashtag\/CoinbasePrime?src=hash&#038;ref_src=twsrc%5Etfw\">#CoinbasePrime<\/a> 6 hours ago\u2014as part of treasury management and business operations.<\/p>\n<p>Shortly after, the project unstaked 19,423 <a href=\"https:\/\/twitter.com\/search?q=%24stETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$stETH<\/a> to <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> and further spent 5M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDC<\/a> to buy 1,826 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> at $2,738.\u2026 <a href=\"https:\/\/t.co\/Rp9NAFUs5N\">https:\/\/t.co\/Rp9NAFUs5N<\/a> <a href=\"https:\/\/t.co\/5bfIvJma7U\">pic.twitter.com\/5bfIvJma7U<\/a><\/p>\n<p>\u2014 Spot On Chain (@spotonchain) <a href=\"https:\/\/twitter.com\/spotonchain\/status\/1886572108324725075?ref_src=twsrc%5Etfw\">February 4, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The company moved $307.41m in assets, including ETH and WBTC, to Coinbase\u2019s custodial platform, then unstaked 19,423 stETH and spent 5m USDC to buy 1,826 ETH at $2,738.<\/p>\n<p>Responding to questions about these operations, WLFI said they were routine portfolio procedures rather than preparation to sell tokens.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements. To be clear, we are not selling tokens\u2014we are simply reallocating assets for ordinary business purposes.\u2026<\/p>\n<p>\u2014 WLFI (@worldlibertyfi) <a href=\"https:\/\/twitter.com\/worldlibertyfi\/status\/1886441070164083074?ref_src=twsrc%5Etfw\">February 3, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTo be clear: we are not selling tokens\u2014we are simply reallocating assets for ordinary business purposes. These actions are intended to maintain a strong, secure and efficient treasury,\u201d the company stressed.<\/p>\n<\/blockquote>\n<p>As a result, the total value of crypto assets on WLFI\u2019s own wallets <a href=\"https:\/\/www.theblock.co\/post\/338667\/trump-backed-world-liberty-financial-moves-its-sizable-eth-and-wbtc-holdings-to-coinbase\">fell<\/a> by 90% \u2014 from $363m to $33m.<\/p>\n<h2 class=\"wp-block-heading\">Scepticism in the community<\/h2>\n<p>According to Blockworks, World Liberty Financial <a href=\"https:\/\/blockworks.co\/news\/trump-backed-project-token-swaps\">\u201cwoos\u201d crypto projects<\/a> with proposals for reciprocal token purchases \u2014 an interested project pays at least $10m for WLFI\u2019s unissued tokens and a 10% \u201cfee\u201d, while the Trump firm commits to buy its assets for the same amount.<\/p>\n<p>The launch of WLFI is reportedly planned for the third quarter of 2025 with a $1.5bn FDV. No vesting of tokens is planned.<\/p>\n<p>Movement Labs and TRON are said to be among those that agreed to the \u201cinvestment swap\u201d terms.<\/p>\n<p>In late January the Trump company bought MOVE tokens worth about $2m. The purchase took place two hours before Movement\u2019s official announcement that the network was open to developers.<\/p>\n<p>There was also lively discussion of rumours about a possible connection to the newly created Committee of Government Efficiency (DOGE), led by Elon Musk.<\/p>\n<p>Movement Labs co-founder Rushi Manch <a href=\"https:\/\/u1f987.com\/en\/news\/movement-labs-denies-insider-trading-allegations-involving-trumps-company\">denied<\/a> direct ties with the Trump project. He stressed that the project did not give WLFI its tokens, and that the team had been posting \u201chints\u201d about the network launch during the week preceding the official statement.<\/p>\n<p>As for cooperation with Musk\u2019s entity, Manch said he knew of nothing of the sort. According to him, there was no asset-swap agreement with WLFI either.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere were no deals, no backroom operations. It was a normal market purchase,\u201d the entrepreneur told <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/02\/04\/tron-move-deny-token-swap-deal-for-world-liberty-fi-inclusion\">CoinDesk<\/a>.<\/p>\n<\/blockquote>\n<p>A representative of the TRON team also denied the existence of a swap agreement.<\/p>\n<p>At the time of writing, the <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/worldlibertyfi\">World Liberty Financial portfolio<\/a> shows $8.81m in TRX. Nearly all MOVE has been transferred to Coinbase Prime.<\/p>\n<p>In November, TRON founder Justin Sun <a href=\"https:\/\/u1f987.com\/en\/news\/justin-sun-becomes-leading-investor-in-world-liberty-financial\">became<\/a> the largest investor in World Liberty Financial.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eric Trump recommended buying ETH after a sharp correction. World Liberty Financial moved $307.41m in assets to Coinbase Prime. Representatives of Movement Network and TRON denied reports of a \u201cdeal\u201d with WLFI. Eric Trump, son of the sitting US president, advised buying ETH. A day earlier the Trump family\u2019s firm, World Liberty Financial (WLFI), had [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1150,1138,26],"class_list":["post-20888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-news-plus","tag-opinions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20888"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20887"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}