Remember that Trump-linked crypto project, World Liberty Financial (WLFI)? Well, they’re denying all the buzz about them dumping their Ether (ETH), especially since ETH’s value is down a hefty 46% since Eric Trump gave it a shout-out.

To add fuel to the fire, crypto analysts Arkham revealed this week that a wallet, possibly connected to WLFI, made a significant move, selling off 5,471 ETH – that’s about $8 million worth – when the price of ETH dipped to around $1,465.

But WLFI is hitting back at these claims. A spokesperson told CoinDesk earlier today, setting the record straight: “The reports about World Liberty Financial selling off any of our crypto holdings are simply not true. WLFI hasn’t sold any positions as suggested. Any talk to the contrary is just false speculation.”

Adding to the drama, it’s being reported that WLFI’s ETH investments are sitting on some pretty hefty unrealized losses – we’re talking roughly $125 million as of Wednesday.

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Remember, Eric Trump, who’s WLFI’s “web3 ambassador,” posted way back in early February, “Personally, I think it’s a great time to load up on $ETH. You can thank me later.” That “thank you” note? Yeah, that vanished pretty quickly afterwards. Back then, ETH was trading around $2,877, but now? It’s down to about $1,557, according to CoinGecko.

And get this, Eric’s father, Donald Trump, also recently jumped into the crypto chat, saying “THIS IS A GREAT TIME TO BUY!!! DJT” just hours before doing a 180 on his tough tariff plans. This whole thing has people wondering if there was some funny business going on, like insider trading, since DJT is also the ticker for his media company stock.

All of this crypto commotion is unfolding while a global trade war, kicked off by Trump, is heating up – now with China slapping a massive 125% tariff on goods from the US.

Adding to the crypto woes, it’s not just the dollar value of ETH taking a tumble. The value of ETH compared to Bitcoin (BTC) has also slid back down to levels we haven’t seen since 2020, with one ETH now fetching only 0.01895 BTC.

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