TRON and Movement Labs Deny Token Swap Agreement with World Liberty Financial (WLFI)

es from two protocols that have tokens held by the treasury of World Liberty Financial (WLFI), a crypto project backed by President Donald Trump and his family, are denying the existence of a token swap agreement that required a $10 million - $15 million buy-in to get included in the project.

Representatives from two protocols whose tokens are held by the treasury of World Liberty Financial (WLFI), a crypto project backed by former President Donald Trump and his family, are denying the existence of a token swap agreement that required a $10 million to $15 million buy-in to get included in the project.

A Blockworks report on Monday claimed that representatives from WLFI pitched protocol teams on a deal to get included in the project’s treasury. The deal was they could buy $10 million of WLFI tokens plus a 10% fee, and WLFI will purchase the same amount of their protocol’s tokens.

“There is no token swap agreement,” a TRON spokesperson told CoinDesk.

TRON's TRX is the second-largest holding in WLFI’s wallet, according to on-chain data curated by Arkham.

The WLFI wallet currently holds 40.7 million TRX, which is valued at $9.3 million. WLFI made these purchases in tranches throughout January.

Movement Labs, which saw its MOVE token surge in late January when WLFI purchased $2 million of it and sparked rumors that the team was in talks with Elon Musk-led Department of Government Efficiency, also denied that there was a swap agreement in place.

Rushi Manche, co-founder of Movement Labs, told CoinDesk earlier that they did not send tokens to anyone, including WLFI.

"There weren't any deals — any back door deals. It was purely just market buying," Manche told CoinDesk.