World Liberty Financial’s controversial $3 million purchase of EOS

World Liberty Financial (WLFI) purchased $3 million worth of EOS Token last night, surprising and raising eyebrows in the community. EOS prices have increased by more than 9% since the transaction took place.

Some observers have compared this to World Liberty’s recent alleged sale of ETH, which occurred at a three-month low. However, while today’s transaction may seem strange, there is no evidence of wrongdoing or insider trading.

Why is WLFI buying so much EOS ?

President Trump and his family are involved in many cryptocurrency projects , but World Liberty Financial in particular has become the center of political controversy .

The company has invested in multiple Token , but faced unrealized losses of over $100 million in March. Lookonchain detected WLFI buying large amounts of EOS , creating a small event:

The community immediately reacted with strong skepticism . Many even suggested that there was market manipulation. To be fair, the project is not completely dead. EOS, a Web3 banking network , recently hit a high after rebranding in March .

However, it seems odd that WLFI would spend so much money on EOS when its best years are behind it. The Token ’s value has had a floor price of $2 to $4 throughout 2020 and 2021, not counting the spikes. Instead, it has spent most of the past 12 months below 50 cents.

Some observers even linked WLFI’s EOS investment to a recent Ethereum crash. Earlier this year, World Liberty bought a large amount of ETH at $3,259 per Token.

A few months later, blockchain data showed that they liquidated most of their reserves for $1,465, a loss of more than $125 million.

For its part, WLFI has completely denied selling ETH. In any case, Ethereum recovered shortly afterwards , and the alleged transactions took place precisely at its three-month low.

Since WLFI made this trade, EOS has increased by more than 9%. It is difficult to say exactly what is going on here. World Liberty Financial’s business practices have generated a lot of controversy , but there is no concrete evidence of wrongdoing yet.

The community will definitely be following this story for further updates.