The SEI token surged by 12% following a major purchase by World Liberty Financial (WLFI), a Trump family-backed crypto project. WLFI spent $775,000 to acquire 4.89 million SEI tokens 2 days ago.
This comes after WLFI has invested in 11 tokens with a total value of $346.8 million, but all tokens are currently in the negative with a total loss of $145.8 million.
Nevertheless, the losses are still present, but the acquisition of SEI has had a positive influence on the token’s price. Currently, SEI is trading at $0.17, up from $0.15, which indicates an increase of 12%.
This new addition enriches the list of assets owned by WLFI that also includes Bitcoin (BTC), Ether (ETH), Tron (TRX), and Avalanche (AVAX). However, their Ethereum investments are currently at a loss of over $114 million, and the portfolio is still negative.
WLFI’s investment strategy, which is one of the trading wallets, demonstrates the company’s efforts to diversify its portfolio. Notably, this move is similar to the one that was adopted when acquiring altcoins. However, the company’s presence in the market and Trump’s involvement in the project remain active for WLFI, and the company remains in the news.
This has come at the same time when WLFI’s stablecoin, USD1, has also attracted attention with its logo being displayed on Coinbase and Binance, suggesting more developments of the Trump-backed crypto project.
Also Read: Mantra (OM) Token Price Drops 93% to $0.43 in 24 Hours
