Photo illustration: Aïda Amer/Axios. Photo: Al Drago/Bloomberg via Getty Images
World Liberty Financial, the decentralized finance project endorsed by the Trump family, moved tens of millions of dollars worth of cryptocurrency onto Coinbase Prime this week.
Why it matters: Money seems to be coming into the Trump-controlled decentralized finance project.
By the numbers: A Dune Analytics dashboard has tracked $80 million worth of sales of the project's token.
On Tuesday, it moved about $57 million to Coinbase's institutional custody provider, according to Arkham Intelligence's dashboard. Looking at its token balances, it seems to have been almost entirely in ether (ETH), the coin of the realm for the Ethereum blockchain.
Ether was up 4.1% yesterday.
What they're saying: "We're making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements," the project tweeted following the moves.
Before the transfer to Coinbase, it appears to have exchanged a large amount of stablecoins and wrapped bitcoin (WBTC) on chain to buy ETH.
