The Scandal Behind the $100 Million Investment in WLFI Revealed! "It Was Linked to Altcoins Banned by Binance and Coinbase!"

World Liberty Financial ($WLFI), the cryptocurrency company backed by US President Donald Trump and his family, is receiving significant investments.

At this point, it was reported a few weeks ago that Aqua1, a United Arab Emirates-based company, invested $100 million in $WLFI.

However, the truth behind the $100 million $WLFI investment has emerged. It has been revealed that Aqua 1, which previously announced it would strategically purchase $100 million worth of $WLFI tokens, is actually a shell company.

Accordingly, it was revealed that the main company investing in $WLFI was Web3Port, the controversial market maker known for the Movement ($MOVE) token scandal.

What Happened?

As you may recall, it was revealed that Web3Port manipulated the token sale and caused serious losses to investors, which resulted in a huge reaction in the market.

The incident was first revealed by Binance, which determined that a large portion of the $MOVE token was sold by a market maker named Rentech, who claimed to be affiliated with Web3Port. Binance later revealed that the market maker manipulated the price of $MOVE.

Following these incidents, Binance decided to remove the market maker of the altcoin $MOVE from its exchange due to its illegal activities. Binance also announced that it had seized the $38 million in USDT proceeds from this $MOVE sale. Movement Labs then partnered with Binance to develop a buyback strategy using these funds and attempt to re-inflate the price.

Coinbase also delisted the $MOVE altcoin. Immediately following Coinbase's delisting, Movement Labs announced the suspension of its co-founder, Rushi Manche, due to a market manipulation scandal.

Market maker Web3Port has been banned by many decentralized exchanges, including Binance and Coinbase, on suspicion of market manipulation.

*This is not investment advice.