WLFI Token Swap Allegations Denied by TRON and Movement Labs

WLFI Token Swap Allegations Denied by TRON and Movement Labs

Recent allegations suggested that World Liberty Financial (WLFI), a cryptocurrency project linked to President Donald Trump and his family, proposed a token swap arrangement. This deal reportedly required protocol teams to purchase $10 million in WLFI tokens plus a 10% fee to join the project's treasury. However, representatives from two major protocols have refuted these claims.

TRON and Movement Labs Clarify Their Positions

TRON, which holds the second-largest token position in WLFI's treasury, denied any token swap agreement. On-chain data shows that WLFI acquired 40.7 million TRX tokens, valued at approximately $9.3 million, through multiple transactions in January. A spokesperson for TRON confirmed that no formal agreement existed.

Similarly, Movement Labs, whose MOVE token saw a significant price surge after WLFI purchased $2 million worth of tokens, also denied any swap deal. Rushi Manche, co-founder of Movement Labs, emphasized that the transactions were purely market-driven, with no backdoor deals or token swaps involved.

Implications of the Denials

The denials from TRON and Movement Labs challenge the initial claims of a structured token swap program. This clarification suggests that WLFI's token acquisitions were likely the result of standard market activities rather than formal agreements. As the situation unfolds, it remains important to monitor on-chain data and official statements for further insights.

The cryptocurrency community continues to watch closely as more details emerge about WLFI's treasury management and token acquisition strategies.