Donald Trump’s Cryptocurrency Project Makes an Overnight Altcoin Move – They Bought the Surprise Altcoin

On-chain data revealed that a cryptocurrency address associated with World Liberty, a project linked to the Trump family, spent $100,000 to purchase 541,242 SEI tokens via Cow Protocol. The tokens were then transferred back to the main address of the World Liberty Foundation (WLF).

The Trump family’s relationship with cryptocurrencies marks a significant shift from Donald Trump’s previous stance, which he called Bitcoin a “fraud” as recently as 2021.

But he embraced digital assets during his second presidential campaign, vowing to make the U.S. the “crypto capital of the planet” at a Bitcoin conference in Nashville in July 2024. Trump’s proposed policies include reducing regulatory restrictions and advocating government hoarding of Bitcoin and other cryptocurrencies.

Following the Nashville conference, Trump and his sons founded World Liberty, a company that positions itself as a major name in the digital asset space.

Despite initially lackluster sales, World Liberty saw a significant increase in token sales following Trump’s presidential election victory. According to data from Dune Analytics, the company has now sold $300 million worth of proprietary tokens. However, investors currently face restrictions as they are unable to resell their tokens or claim any profits.

*This is not investment advice.