World Liberty Financial (WLFI), a cryptocurrency project backed by Donald Trump and his family, has made significant investments in digital assets. Since November 30, WLFI has invested $44.75 million in various cryptocurrencies.
WLFI's Cryptocurrency Acquisitions
According to Lookonchain and Arkham Intelligence, WLFI has steadily increased its investments since November 30. Highlights include acquiring $30 million worth of Ether (ETH) and $10 million worth of Coinbase Wrapped Bitcoin (cbBTC). Recently, the project purchased $250,000 worth of Ondo (ONDO) and $500,000 of Ethena (ENA). Additionally, WLFI acquired $2 million each of Chainlink (LINK) and Aave (AAVE). The bulk of these investments occurred on December 12, when WLFI spent $10 million on 2,631 ETH. A pivotal moment was marked by Justin Sun's $30 million investment in the project.
What is World Liberty Financial?
Despite significant backing, WLFI remains somewhat mysterious. The project claims to focus on stablecoin payments, borrowing and lending services, and liquidity pools. However, detailed plans or use cases are yet to be disclosed.
Trump’s Evolving Stance on Cryptocurrency
Trump’s involvement in WLFI marks a stark contrast to his earlier skepticism toward cryptocurrencies. In recent years, he has shifted to a pro-crypto stance, promising to make the U.S. a "crypto capital" and supporting the creation of a national Bitcoin reserve. At a Bitcoin conference in July, he emphasized the need for crypto-friendly regulations crafted by industry advocates. His recent electoral win has fueled expectations of a friendlier regulatory environment for the industry, pushing Bitcoin prices above $100,000. Trump has also appointed pro-crypto figures to key roles, such as Paul Atkins as SEC chair and former PayPal executive David Sacks as the crypto and AI czar.
The activities of WLFI and its substantial backing by prominent figures highlight the potential influence of the project on the cryptocurrency market. Despite challenges, strategic investments could strengthen WLFI's position in the industry.
