Crypto Drama: TRON and Movement Labs Say No to Token Swap Shenanigans!

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What to know:

  • TRON claims it was never approached about a token swap deal for inclusion in WLFI. 🤔
  • MOVE insists that its presence in the project’s treasury was merely a case of market buying. 💸

Now, gather ’round, folks, for a tale of intrigue and denial in the wild world of crypto! Representatives from two protocols, whose tokens are snug as a bug in the treasury of World Liberty Financial (WLFI)—a crypto venture that’s got the backing of none other than President Donald Trump and his illustrious family—are waving their hands and shouting, “No token swap here!”

Just the other day, a report from Blockworks had the audacity to suggest that WLFI had pitched a deal to these protocol teams, offering a chance to buy $10 million worth of WLFI tokens, plus a 10 percent fee, in exchange for a similar amount of their own tokens. Sounds like a fine way to make a quick buck, doesn’t it? But alas, TRON’s spokesperson was quick to quip, “There is no token swap agreement.” Well, that’s a relief! 😅

According to the on-chain data, TRON’s TRX is the second largest holding in WLFI’s wallet, which currently boasts a whopping 40.7 million TRX worth about $9.3 million. And how did they acquire such a treasure? Why, through a series of market buys in January, of course! 🤑

Now, let’s not forget Movement Labs, who saw their MOVE token soar like a kite in a windstorm when WLFI decided to purchase $2 million worth of it. Rumors were flying about discussions with the Elon Musk-led Department of Government Efficiency—sounds fancy, doesn’t it? But, just like TRON, Movement Labs is denying any swap agreement. Rushi Manche, co-founder of Movement Labs, declared to CoinDesk, “There weren’t any deals—any back door deals. It was purely just market buying.” Well, that’s one way to keep the drama at bay! 😏

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2025-02-04 08:39