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MOVE’s price spiked as much as 20% this morning, on a new token purchase by a Trump-supported DeFi entity and whispers of ties to an Elon Musk-led government office.
What’s the scoop?
- WLFI Token Buy: Trump-linked World Liberty Financial purchased ~$2M worth of MOVE over multiple transactions.
- Rumors of Musk’s D.O.G.E.: A post circulated suggesting Movement’s team is in discussions with Elon Musk’s Department of Government Efficiency for “blockchain usage,” but
Movement denies direct contact. - Insider Trading Accusations: Observers noted a surge in open interest right before the price rally, signaling positions were opening up, sparking questions about potential early access to information.
- Developer Response: Movement Labs stated there were no backroom deals, adding that World Liberty Financial’s buys were market purchases and not token grants.
Bankless Take
Since Trump took office, it’s been non-stop headline-prompted market moves. While there may be no formal partnership yet, some of WLFI’s token purchases have been in accordance with partnerships, such as in the case of AAVE and ENA. Thus, it may not seem like a stretch to imagine a World Liberty Finance instance deploying on Movement once both entities hit mainnet.
the strategic move stockpile.
— rushi (@rushimanche) January 28, 2025
we are proud to be the first altcoin, first modern blockchain platform, and first alternative vm under the new administration.
MOVE is Made in America. https://t.co/2xfs79JcYa
