- Eric Trump, crypto whisperer, deems it prime time to scoop up ETH.
- But wait! His family’s WLFI just offloaded a cool $300M in digital bling.
Eric Trump and his kin’s World Liberty Financial (WLFI) have stirred up a crypto storm.
Outrage ensued after WLFI’s Ethereum [ETH] and wrapped Bitcoin [WBTC] fire sale, totaling over $300M, according to LookOnChain’s number crunching.
“WLFI today shifted a boatload of crypto to Coinbase Prime, including 86,296 ETH ($235M) and enough WBTC to buy a small island ($65.5M),” LookOnChain reported.
The grand total of this crypto exodus: $316.8 million. Meanwhile, WLFI bought another $5M ETH, because… reasons? The crypto world was shooketh.
WLFI’s ETH Sale: A Defensive Play?
Eric Trump’s ETH buy recommendation was met with a side-eye and a “Wait, what?” from the community. Sell high, buy low? That’s not how this works, Eric.
One critic called it a ‘crypto heist,’ questioning the ethics of hyping an asset just to make a quick exit. 🚀🚀🚀 to 💀💀💀.
“Literal crime lol. Bro just dropped ~$175M ETH into Coinbase Prime like it’s nothing.”
WLFI, trying to save face, claimed it wasn’t ‘selling’—just ‘reallocating assets’ for, you know, business stuff. 🤷♂️
“Just routine crypto shuffling, folks. Fees, expenses, working capital—the usual.”
They continued,
“We’re not selling tokens; we’re just moving them around for business as usual.”
But analysts, like Presto Research’s Rick Maeda, saw traders flocking to put options, essentially betting on ETH’s downfall. 📉
“ETH prices took a nosedive, and everyone started buying insurance against further drops. Market sentiment: nervous.”
It seemed everyone was bracing for ETH’s potential nosedive in the coming days. 🤕
According to 25RR, the market’s sentiment was as gloomy as a rainy Monday morning for the next four days.
In summary, February’s first half saw a lot of hedging—like a crypto winter coat to guard against the ETH chill.
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2025-02-04 19:09