On the day of President Donald Trump's inauguration, World Liberty Financial, a DeFi project, made significant cryptocurrency investments, drawing attention to the Trump family's growing interest in the crypto sector.
Substantial Cryptocurrency Purchases
According to Arkham Intelligence, on the inauguration day of January 20, World Liberty Financial purchased $46.8 million worth of Ethereum (ETH) and $46.7 million in Wrapped Bitcoin (wBTC) within four hours. The spree also included smaller cap tokens such as Ethena (ENA), wrapped Tron (wTRX), Chainlink (LINK), Aave (AAVE), and Uniswap (UNI). Transactions were made using the decentralized exchange CoW.
Market Activity Before the Inauguration
Following the large cryptocurrency purchases, the World Liberty Financial wallet's assets increased to $326.2 million, with the majority of the value held in three coins: ETH, USD Coin (USDC), and wBTC. Interest has spiked in the crypto endeavors of the Trump family, bringing more attention to the World Liberty Financial project.
Tokens and Trump's Support
Two days before the inauguration, the Official Trump (TRUMP) token was launched on the Solana blockchain, reaching a market capitalization of over $15 billion on January 19 before dropping 40% on January 20. First Lady Melania Trump also launched her self-titled memecoin, MELANIA. The World Liberty Financial project is backed by Zachary Folkman and Chase Herro, with President Trump designated as the 'chief crypto advocate', while Eric Trump and Donald Trump Jr. serve as Web3 ambassadors.
The popularization of cryptocurrencies among the Trump family has attracted significant attention, and substantial investments like those of World Liberty Financial only amplify interest in how his name might influence further adoption and regulation in the crypto sector.
