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Trump-Backed World Liberty Financial Offloads Ethereum (ETH) at Heavy Loss

World Liberty Financial, a venture backed by former US President Donald Trump, has reportedly sold 5,471 units of Ethereum (ETH) for $8.01 million in two transactions back in late 2022. This sale comes as a surprise to many in the crypto community, given the significant losses incurred.

What’s interesting is that this whale continued holding even when ETH reached $4,000, which would have represented a massive profit of $27.6 million. Their decision to sell now for lesser gains suggests growing pessimism about Ethereum’s near-term prospects. The actions of World Liberty Financial and other major whales could potentially trigger more selling pressure in the market.

Retail investors are closely watching these developments, and such high-profile sales might lead to a broader market dump.

Source: https://coincentral.com/trump-backed-world-liberty-financial-offloads-ethereum-eth-at-heavy-loss/