Share this article
TRON, Movement Labs Deny ‘Token Swap’ Deal for World Liberty Financial Inclusion
A report alleges that projects were pitched on a $10 million - $15 million buy-in on the Trump-backed project.
Feb 4, 2025, 5:18 a.m.
What to know:
- TRON says it was never pitched on a token swap deal for inclusion in WLFI.
- MOVE also says that its inclusion in the project's treasury was just market buying.
Representatives from two protocols that have tokens held by the treasury of World Liberty Financial (WLFI), a crypto project backed by President Donald Trump and his family, are denying the existence of a token swap agreement that required a $10 million - $15 million buy-in to get included in the project.
A report from Blockworks on Monday alleged that representatives from WLFI had pitched protocol teams on a deal to get included in the project’s treasury. The deal was they could buy $10 million WLFI tokens plus a 10 percent fee, and WLFI will purchase the same amount of their protocol’s tokens.
STORY CONTINUES BELOW
No te pierdas otra historia.Suscríbete al boletín de Crypto Daybook Americas hoy. Ver todos los boletines
“There is no token swap agreement,” a spokesperson from TRON told CoinDesk.
TRON’s TRX is the second largest holding in WLFI’s wallet, according to on-chain data curated by Arkham.
The WLFI wallet currently holds 40.7 million TRX worth $9.3 million. WLFI made these buys in tranches throughout January.
Publicidad
Movement Labs, which saw its MOVE token jump in late January when WLFI purchased $2 million of it, and rumors swirled that the team was in discussion with Elon Musk-led Department of Government Efficiency, also denied that there was a swap agreement in place.
Rushi Manche, co-founder of Movement Labs, told CoinDesk earlier that they did not send tokens to anyone including WLFI.
"There weren't any deals — any back door deals. It was purely just market buying," Manche told CoinDesk.
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
