Trump-backed World Liberty Financial acquires AVAX and MNT for $4 million, total portfolio losses reach $118 million
World Liberty Financial (WLFI), a DeFi project backed by the Trump family, on Saturday acquired Avalanche (AVAX) and Mantle (MNT) tokens for $2 million each, while the overall portfolio continues to show significant losses.
According to information tracked by Arkham Intelligence, the organization bought 103,911
#AVAX tokens and 2.45 million
#MNT tokens, after purchasing 541,783 SEI on Thursday.
WLFI's investment portfolio now consists of 11 digital assets, including
#Ethereum , Wrapped Bitcoin, Tron, Chainlink, Aave, ENA, MOVE, ONDO, SEI, AVAX and MNT.
According to Lookonchain, the cryptocurrency company has invested about $343 million in these assets and currently has unrealized losses of $118 million.
Ethereum represents the largest position, accounting for 58% of the portfolio, with a loss of $88 million.
the latest purchases came after WLFI completed a $550 million token sale on Wednesday. Eric Trump, an ambassador for the Web3 project, announced future events after the sale was finalized.
World Liberty Financial recently announced a partnership with Sui Fund. The project plans to integrate Sui's assets into its strategic token pool and jointly develop products under the collaboration.
According to recent reports from the Wall Street Journal and Bloomberg, World Liberty Financial has been in discussions with Binance about potential business projects, including the development of a stablecoin.
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