WLFI’s $336M In Assets Sparks Speculation Ahead Of White House Crypto Summit
The post WLFI’s $336M In Assets Sparks Speculation Ahead Of White House Crypto Summit appeared first on Coinpedia Fintech News
As the White House Crypto Summit approaches, some experts are raising concerns about the timing of cryptocurrency moves by the Trump family’s WLFI project. Reports suggest WLFI has accumulated $336 million in assets, including Bitcoin and altcoins.
This has sparked speculation, with some questioning whether these actions could influence market movements.
WLFI’s Moves Spark Speculation
With over a day left before the White House Crypto Summit on March 8, where Trump may announce his Bitcoin strategy, WLFI, a DeFi project backed by the Trump family, bought another $21.5 million in tokens. This includes $10 million in WBTC (110 BTC), $10 million in ETH (4,468 ETH), and $1.5 million in MOVE (3.42 million tokens).
According to Ember monitoring, so far, WLFI has spent $336 million to buy 9 tokens: ETH, WBTC, TRX, LINK, AAVE, ENA, MOVE, ONDO, and SEI. Most of these assets were moved to Coinbase Prime, but it’s unclear if they have been sold while WLFI claims that they haven’t.
Notably, if all of the assets haven’t been sold, WLFI currently has an unrealized loss of about $88 million. The largest loss percentage is ENA, which has dropped 63%; while the largest loss amount is ETH, with a loss of $67.35 million, down 31%.
Trump’s Reserve Plans
On Sunday, President Trump shared some plans for the reserve on social media. He revealed that the reserve would include alternative cryptocurrencies like XRP, SOL, and ADA. Trump later clarified that BTC and ETH, being valuable, would be the main focus of the Reserve. However, in a recent interview, Commerce Secretary Howard Lutnick stated that bitcoin would be “treated differently” from the altcoins Trump mentioned, such as XRP, SOL, and ADA.
The First Of Its Kind Crypto Summit!
The entire market is anxiously waiting for the upcoming White House crypto summit on March 8 , which could be a pivotal moment for the cryptocurrency market. At the event, Trump is expected to reveal a Bitcoin reserve strategy, which could dramatically influence the entire market.
Several industry leaders and members of President Trump’s crypto task force are expected to attend the summit. Meanwhile, bitcoin and crypto prices saw a slight rebound on Wednesday, ahead of the event.
The White House Crypto Summit will be held from 1:30 p.m. to 5 p.m. ET on Friday, March 7. David Sacks, Trump’s AI and crypto czar, is expected to lead the event.
