World Liberty Financial Sells 5,471 ETH at $1,465, Faces $125 Million Loss

World Liberty Financial, a decentralized finance (DeFi) project backed by the Trump family, may have sold 5,471 ETH, valued at approximately $8 million at the time of the transaction. The sale was conducted at a price of $1,465 per coin, according to a report from Lookonchain. This move comes amidst a significant loss for the project, which had previously acquired 67,498 ETH for around $210 million, averaging $3,259 per token.

Given the current price of ETH at about $1,400, World Liberty is now facing a substantial loss of roughly $125 million. This financial setback is compounded by the broader downturn in the crypto market, where Ethereum has fallen more than 40% since Eric Trump, the project’s web3 ambassador, made optimistic statements about the cryptocurrency.

Beyond Ethereum’s struggles, the overall crypto market is experiencing a sharp decline. Bitcoin has dropped over 20% since early February, while XRP and Cardano have each lost around 30% of their value. Solana has been particularly hard hit, shedding almost 50%, and Dogecoin is down approximately 47%. Among the top 10 cryptocurrencies, TRON and Binance Coin have shown the most resilience.

World Liberty has faced several controversies regarding token sales and management. Despite these challenges, the project has consistently denied allegations of making unauthorized token sales or swaps. The recent sale of 5,471 ETH adds to the list of financial and reputational challenges the project is currently navigating.