Trump-Linked Wallet Sells $8M Worth of Ethereum at Loss as Market Plummets

WLFI, a project allegedly linked to Donald Trump, saw a significant loss on its Ethereum investment following the recent market downturn. An analysis by Lookonchain reveals that this wallet sold 5,471 ETH worth approximately $8 million just before news of the project’s launch came out. This sale comes as the price of ETH has fallen significantly since last week, shedding over 24%. The decline is further exacerbated by market-wide losses, which have affected Bitcoin and other altcoins like XRP, Cardano, and Solana.