Trump-Backed WLFI Buys 3.54M MNT Tokens After Mantle Hard Fork, Faces $111M Loss

World Liberty Financial (WLFI), a DeFi project backed by the Trump family, recently purchased 3.54 million MNT tokens for $3 million USDT. This acquisition follows a series of investments by WLFI, which has spent a total of $346 million across 11 tokens, including ETH, WBTC, TRX, LINK, and AAVE, among others.

Despite these investments, WLFI is currently facing a paper loss of $111 million. The recent purchase brings WLFI's total holdings of MNT to 5.99 million tokens, valued at approximately $5.05 million, with an average entry price of $0.78 per token.

The purchase coincides with a recent hard fork of the Mantle Network on March 19, which introduced EigenDA, a decentralized data availability solution aimed at enhancing scalability and compatibility with Ethereum's upcoming Pectra upgrade. EigenDA reportedly enables a throughput of 15 MB/s. MNT, which serves as the utility and governance token for the Mantle Network, saw its price rise by 6% to $0.83 following the upgrade.

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