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Trump-Backed WLFI Invests $343M in Crypto, Faces $109M Loss
In a recent move that has sent shockwaves through the cryptocurrency market, World Liberty Financial (WLFI), a project backed by former US President Donald Trump’s family, has revealed it has invested an astonishing $343 million across 11 different cryptocurrencies. This significant investment is part of WLFI’s strategy to capitalize on the long-term potential of digital assets.
According to reports, WLFI acquired 3.539 million Mantle ($MNT) tokens at an average price of $0.84, which adds up to a staggering $343 million. This massive injection of capital has led many in the industry to speculate about the implications for the market and its players.
However, the news is not all positive as WLFI currently faces an overall floating loss of approximately $109 million. This significant loss raises questions about the viability of the project’s investment strategy and whether it is sustainable in the long term.
Despite this setback, WLFI remains committed to its vision of leveraging the potential of digital assets, suggesting that the firm may be willing to take a hit short-term for potentially lucrative returns down the line.
As news of the massive investment and subsequent loss spreads throughout the industry, many are left wondering what this means for the future of cryptocurrency trading and investments.
Source: https://coinpedia.org/crypto-live-news/trump-backed-wlfi-invests-343m-in-crypto-faces-109m-loss/
