- Movement Labs launches developer mainnet, aligns with new blockchain development funding initiatives.
- Discussions rise around potential insider dealings following MOVE token purchases by World Liberty Financial.
World Liberty Financial, backed by Donald Trump, recently added $2 million in MOVE tokens to its portfolio, making it the tenth-largest holding. This investment coincided with Movement Labs’ launch of a new developer mainnet and a funding initiative for the blockchain development sector.
The purchase, conducted on the same day Movement Labs announced its new initiatives, has prompted discussions among blockchain analysts about the possibility of insider trading. This acquisition is part of World Liberty Financial’s broader strategy, which includes a portfolio of approximately $389 million in various cryptocurrencies.
To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce the following strategic purchases today:
$47,000,000 ETH
$47,000,000 wBTC
$4,700,000 Aave
$4,700,000 LINK
$4,700,000 TRX
$4,700,000 ENAExcited for the…
— WLFI (@worldlibertyfi) January 20, 2025
Movement Labs, currently in preliminary discussions with the newly formed Department of Government Efficiency, seeks to align itself within the evolving regulatory framework. Rushi Manche, the founder of Movement Labs, clarified on social media that the firm is not directly collaborating with government bodies, highlighting that cryptocurrency policy discussions are still in preliminary stages across all government levels.
So… is this an inside trading? asking for a friend.
Presidential inside trading pic.twitter.com/MoNwmoAtzc
— DC (@Pedr0_DC) January 28, 2025
In its trading activities, World Liberty Financial frequently engages in large-scale transactions of cryptocurrencies, such as a recent $112.8 million purchase of MOVE tokens during Trump’s inauguration, using the CoW Swap decentralized exchange.
In addition to MOVE, World Liberty has increased its investments in other major tokens such as Chainlink’s LINK and Tron’s TRX, with the latter now its sixth-largest asset following increased backing from Tron founder Justin Sun.
These transactions occur alongside a governmental exploration into blockchain’s potential to improve the efficiency of federal spending, spearheaded by an initiative from Elon Musk. This exploration includes discussions on the potential applications of blockchain for tracking government expenditures and securing data.
The rollout of Movement Labs‘ developer mainnet and the introduction of the Cornucopia liquidity program are aimed at enhancing the infrastructure available to blockchain developers. This effort seeks to improve the scalability and security of blockchain applications
