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Web3Port Behind $100 Million Investment in Trump-Backed WLFI
Generated by AI AgentCoin World
Tuesday, Jul 15, 2025 6:05 am ET1min read
World Liberty Financial (WLFI), a cryptocurrency company backed by former US President Donald Trump and his family, has been the recipient of substantial investments. Initially, it was reported that Aqua1, a United Arab Emirates-based company, had invested $100 million in WLFI. However, recent revelations have shed light on the true nature of this investment.
The $100 million investment in WLFI was not actually made by Aqua1, but rather by Web3Port, a controversial market maker known for its involvement in the Movement (MOVE) token scandal. Web3Port, which was previously linked to market manipulation, is the main entity behind the investment in WLFI. This revelation has raised significant concerns about the legitimacy and transparency of the investment.
The MOVE token scandal involved Web3Port manipulating the token sale, resulting in substantial losses for investors. The incident was first exposed by Binance, which identified that a significant portion of the MOVE tokens were sold by a market maker named Rentech, affiliated with Web3Port. Binance's investigation revealed that the market maker had manipulated the price of the MOVE token, leading to its delisting from the exchange. Additionally, Binance seized $38 million in
proceeds from the MOVE sale and partnered with Movement Labs to develop a buyback strategy to attempt to re-inflate the token's price.Following the scandal,
also delisted the MOVE altcoin and suspended its co-founder, Rushi Manche, due to the market manipulation scandal. Web3Port has since been banned by multiple decentralized exchanges, including Binance and Coinbase, on suspicion of market manipulation. The involvement of Web3Port in the $100 million investment in WLFI has raised serious questions about the integrity of the investment and the potential risks for investors.
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