World Liberty Financial (WLFI), a cryptocurrency project backed by Donald Trump and his family, spent $44.75 million acquiring multiple cryptocurrencies since November 30.
Breaking Down WLFI’s Buying Spree
According to Lookonchain and Arkham Intelligence, WLFI steadily increased its investments since November 30. Highlights include the purchase of $30 million worth of Ether (ETH) and $10 million worth of Coinbase Wrapped Bitcoin (cbBTC). Most recently, on December 15, $250,000 worth of Ondo (ONDO) was acquired following a $500,000 purchase of Ethena (ENA). WLFI also bought $2 million each of Chainlink (LINK) and Aave (AAVE). The bulk of these investments occurred on December 12, when $10 million was spent on 2,631 ETH. A pivotal moment was Justin Sun's investment of $30 million in WLFI, making him the largest investor.
What Is World Liberty Financial?
Despite high-profile backers and substantial investments, 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 have yet to be disclosed. Nevertheless, the project's activities and considerable backing suggest it could play a growing role in the crypto space.
Trump's Changing Stance on Crypto
Donald Trump's involvement in WLFI marks a stark contrast to his earlier skepticism toward cryptocurrencies. In recent years, Trump has shifted to a pro-crypto stance, promising to make the U.S. a "crypto capital" and calling for the creation of a national Bitcoin reserve. In a keynote speech at a Bitcoin conference in July, Trump emphasized the need for crypto-friendly regulations crafted by industry advocates. His campaign also began accepting cryptocurrency donations, further aligning with the sector’s growth. His recent electoral win has fueled expectations of a friendlier regulatory environment for the industry.
With backing from prominent figures like Donald Trump and significant investments in the crypto industry, World Liberty Financial could play a key role in shaping the cryptocurrency landscape.
