TRON and Movement Labs Deny Any Involvement in a ‘Token Swap’ Agreement for World Liberty Financial Inclusion.

TRON, Movement Labs Deny Alleged Token Swap Deal with Trump’s WLFI Project

Representatives from TRON and Movement Labs have dismissed reports claiming that they were involved in a token swap agreement with World Liberty Financial (WLFI), a cryptocurrency initiative backed by former President Donald Trump and his family. The alleged deal, which surfaced in a report by Blockworks on Monday, suggested that protocol teams were offered a chance to participate in the project’s treasury by purchasing WLFI tokens worth between $10 million and $15 million, along with a 10% fee, in exchange for WLFI purchasing an equal amount of their tokens.

TRON’s spokesperson firmly denied the claim, stating, “There is no token swap agreement.”

On-chain data from Arkham shows that TRON’s TRX is the second-largest asset in WLFI’s wallet, amounting to 40.7 million TRX, valued at $9.3 million. These transactions were spread out over several purchases in January.

Similarly, Movement Labs, which saw its MOVE token price spike in late January following WLFI’s $2 million purchase, also rejected the notion of any swap agreement. Rushi Manche, co-founder of Movement Labs, clarified to CoinDesk, “There were no deals made, no behind-the-scenes arrangements. The purchases were simply market-driven.”

Both companies emphasized that any involvement with WLFI was based on straightforward market activities, with no token swap agreements or deals involving insider arrangements.