Additional Developments In The WLFI Crypto $100M Investment Saga: Are Aqua1 Linked To China

The Aqua1 Foundation has claimed it functions autonomously in light of journalist Jacob Silverman’s article, which raised the possibility of links to the contentious crypto market maker Web3Port. However, the foundation did not address several significant inquiries. Amidst the unfolding situation, there are persistent speculations that the WLFI token will commence trading either this week or the next.

On Monday, Silverman released his investigation, stating he uncovered connections between the Aqua1 Foundation and Web3Port through shared web hosting services and intersecting personnel.

Fam!

Rumors associating Aqua1, $WLFI‘s $100M backer, to the banned Chinese firm Web3Port are in circulation.

Aqua1 disclaims these allegations, yet shared AWS footprints and past ties to Dave Lee (also known as David Jia Hua Li) sustain the inquiries.

Crypto or geopolitical chess? pic.twitter.com/IzeXsHozhP

— Vanessa (@_0xVanessa) July 16, 2025

New Developments in Aqua1 / WLFI Crypto Saga as Journalist Alleges Dave Lee’s Links with Controversial Trading market Maker

He pointed out that Aqua1’s founder, known on X as Dave Lee, is actually David Li, whose profile on the outreach platform ContactOut identifies him as a partner and senior project manager at Web3Port.

The Aqua1 Foundation faced scrutiny in late June after acquiring $100 million worth of governance tokens from World Liberty Financial, a cryptocurrency project supported by former US President Donald Trump and his family.

The inquiry raised alarms that the entity backing the president’s DeFi initiative might have associations with Web3Port, a company accused of manipulating cryptocurrency prices.

Lee sought to dissociate himself from Web3Port, asserting that he left his prior role at his “previous employer” due to “fundamental differences in vision and strategy.” Nonetheless, he has neither confirmed nor denied being David Li or that Aqua1 maintains any relationship with Web3Port.

Silverman is a journalist recognized for his critical commentary on Trump and his connections to the crypto asset world. Last week, he released an article in The Nation titled “Does Trump’s Biggest Crypto Backer Exist?” which cast doubt on the credibility of the Aqua1 Foundation, especially following its $100 million commitment to WLFI crypto.

Silverman noted that Aqua1’s public visibility primarily consists of a vague website, inactive social media profiles, and a figure known solely as “Dave Lee.” In a follow-up investigation on his website, he mentioned that Lee is David Li of Web3Port, based on a review of LinkedIn data and past conference attendances.

I have identified “Dave Lee” (@LeeDave_Aqua), the pseudonymous individual behind Aqua 1 Foundation, which last month announced a $100 million deal with Trump’s World Liberty Financial. I believe it’s important to know who is financing the US president.https://t.co/6DIpCPm54v

— Jacob Silverman (@SilvermanJacob) July 14, 2025

DISCOVER: Top Solana Meme Coins to Buy in July 2025

Aqua1 Reacts to Silverman: Threatens Legal Action

In the aftermath of the report’s release, Aqua1 issued a statement on X asserting that it “operates independently and holds no equity, financial, or operational connections to any unrelated organization.” It cautioned that it would consider legal action against any defamatory or factually inaccurate reporting.

While the statement appeared to refute connections to Web3Port, it did not specify the firm by name and did not clarify if Web3Port qualifies as a related organization.

Among Silverman’s significant discoveries was that Aqua1 and Web3Port shared the same server IP address along with several other crypto-related domains. Initially, Aqua1 overlooked this detail. Nevertheless, when questioned on social media, Lee replied by declaring Aqua1 has “no ties whatsoever to other teams or entities.”

“The shared IP was purely a result of transitional hosting during the early stages. I transitioned the CTO and key IT personnel when I departed,” Lee stated on X.

“After numerous attempts to contact Dave, his colleagues, and WLF, I indeed received an email last night,” Silverman mentioned in a leaked message exchange. “It did not contain any denials whatsoever or clarify the specifics of my findings.”

Aqua1 Official Statement

We have observed recent online speculation regarding Aqua1 and its team, which has led to some public misunderstanding. To curtail the spread of misinformation, we would like to clarify the following:

Team Background

Dave Lee joined Aqua1 as co-founder…

— Aqua1 Foundation (@Aqua1Fndn) July 15, 2025

In a screenshot of the email Silverman got, Lee detailed ongoing advancements in stablecoins, tangible assets, and initiatives in the Middle East. The message indicated that specific information was constrained by regulatory and crypto law restrictions and couldn’t be made public at this time.

“Nevertheless, if there are specific points you’d like clarified, we’re more than willing to provide factual information and base level accurate reporting. We appreciate constructive dialogue and welcome ongoing communication,” the email screenshot stated.

However, at no point during the exchanges between Lee and Silverman did Lee confirm or deny whether he is the same David Li associated with Web3Port.

WLFI Crypto Expected to Go Live For Trading Very Soon

Only 7 hours remain for the $WLFI governance vote to make the crypto token tradable.
Once approved, this will enable public market trading for the first time.
Any insights on when the initial trading platform listing might occur? pic.twitter.com/8bRAdv1sDl

— Cryptoprofilers (@Cryptoprofilers) July 16, 2025

There are mere hours left for the governance vote presented to WLFI crypto holders on whether to permit trading of the token. Currently, it stands at 99.94% in favor of enabling WLFI for trading, and once this vote concludes, a date for WLFI’s listing on the exchanges will likely be announced.

A Binance listing appears to be a certainty, given the close relationship between World Liberty Financial, its USD1 stablecoin, and its development on Binance’s BNB Smart Chain. The transparency of the ties between the two companies allows investors to anticipate a listing on the world’s leading crypto exchange on day one.

Coinbase is one notable exchange that may not include WLFI on day one due to existing tensions between Binance and its co-founder, CZ, along with the World Liberty Financial project. There are claims that Coinbase facilitated a recent Bloomberg hit piece on WLFI crypto and CZ, although the exchange has refuted these allegations.

Nonetheless, other than Coinbase, traders can expect immediate listings for WLFI on Binance, ByBit, OKX, and other premier exchanges due to the enthusiasm and market demand surrounding this token launch. Exchanges are keen to secure their portion of the anticipated liquidity that will flood into WLFI at its release.

Stay tuned to the official World Liberty Financial social media platforms for an update regarding the date and time when WLFI crypto will become available for trading.

EXPLORE: 20+ Next Crypto to Explode in 2025

Join The 99Bitcoins Update Discord Here For The Latest Market Updates

The post More Twists And Turns In The WLFI Crypto $100M Investment Drama: Are Aqua1 Connected To China appeared first on 99Bitcoins.