The SEI token has experienced a significant surge of 12%, following a substantial purchase by World Liberty Financial (WLFI), a cryptocurrency project with ties to former President Trump. WLFI’s recent investment amounted to $775,000, resulting in the acquisition of 4.89 million SEI tokens just two days ago. This follows a broader trend of WLFI investing in numerous crypto assets, though their portfolio is currently marred by significant losses. 11 tokens have been acquired with a total value of $346.8 million, resulting in a negative overall balance of $145.8 million. 775K USDC was utilized to acquire these tokens again just one hour ago.
Despite the current losses across their portfolio, the recent SEI acquisition has driven the token’s price up from $0.15 to $0.17, marking a 12% increase. WLFI is known for its investment strategy, which aims to diversify their holdings. This move echoes past strategies of acquiring altcoins. However, their active presence in the market and Trump’s involvement in the project continue to generate attention and media buzz.
Further adding fuel to this story, WLFI’s stablecoin, USD1, has attracted increased interest due to its logo being featured on Coinbase and Binance, suggesting upcoming developments for this project tied to former President Trump.