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Trump-Linked Wallet Moves $4.5M in Tokens Amid Senate Probe
By: cryptofrontnews|2025/05/08 07:00:08
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Trump-linked WLFI moved $4.51M in AVAX, MOVE, and SEI, signaling potential institutional custody shifts via Binance’s Ceffu platform.WLFI’s USD1 stablecoin test airdrop gains 99.97% governance support, aiming to validate technical readiness and community backing.A U.S. Senate panel probes WLFI and Trump’s crypto ties over possible ethics violations and foreign involvement in digital asset dealings.Donald Trump-associated World Liberty Financial (WLFI) has transferred $4.51 million in crypto to a fresh wallet, raising eyebrows. Within 45 minutes, WLFI moved large sums of AVAX, MOVE, and SEI tokens, possibly en route to Binance’s institutional custody arm, Ceffu. The transfer includes 103,911 AVAX worth $2.06 million, 7.58 million MOVE valued at $1.27 million, and 5.98 million SEI totaling $1.18 million.The MOVE tokens were directly sent to Ceffu, hinting at a custody setup. WLFI’s current unrealized gains and losses are mixed. It holds a $69.9K profit (+3.5%) on AVAX and a $196K gain (+20%) on SEI. However, it suffers a steep $2.45 million loss (-65.8%) on MOVE, reflecting poor performance.Stablecoin Airdrop Test Garners SupportBesides its recent token moves, WLFI launched a governance proposal around its new stablecoin, USD1. The vote seeks community approval for a test airdrop to early WLFI holders. The test aims to validate the technical airdrop mechanism before any full rollout.So far, the community response has been overwhelmingly positive. Nearly 2.6 billion WLFI tokens, or 99.97% of votes cast, support the airdrop. Only 940,000 tokens oppose the move. Although the test airdrop date remains unscheduled, WLFI emphasizes its right to cancel or alter the plan at any moment.Unlike risky algorithmic stablecoins, USD1 positions itself as a fully backed, institution-ready digital asset. WLFI claims USD1 is supported by short-term U.S. Treasuries, cash, and other high-quality reserves. BitGo, a reputable digital asset custodian, will oversee these reserves.Senate Panel Probes Potential Legal ViolationsHowever, WLFI now faces federal scrutiny over potential ethical and legal issues. Senate Democrat Richard Blumenthal has initiated a probe into Trump-linked crypto ventures. As ranking member of the Senate Permanent Subcommittee on Investigations, he sent inquiry letters to WLFI’s Zach Witkoff and Fight Fight Fight LLC’s Bill Zanker.Blumenthal cited concerns about ethics breaches and possible transactions involving foreign nationals under federal investigation. The Subcommittee seeks financial and ownership records from both companies to assess legal compliance and risk.The post Trump-Linked Wallet Moves $4.5M in Tokens Amid Senate Probe appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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