World Liberty Financial, associated with US President Donald Trump, has purchased over $20 million in cryptocurrency ahead of the anticipated White House crypto summit.
Major Crypto Investments
Data from Nansen indicates that a wallet belonging to World Liberty Financial acquired $10.1 million in Ether, $9.9 million in WBTC, and $1.68 million in MOVE token. The company's representatives declined to comment on the matter.
Crypto Market Rebound
Following a sharp decline early in the week, Bitcoin, Ethereum, and other altcoins are seeing a comeback. One driving factor is the upcoming State House crypto summit inspiring market confidence. Moreover, large investors have taken advantage of low prices to accumulate assets. Analyst Colin Talks Crypto highlighted an increase in the Global M2 Money Supply, boosting asset prices.
Trump's Role in DeFi Projects
In 2024, World Liberty Financial was launched as a DeFi project. President Trump and his sons have been active in promoting it. The company plans to establish a crypto strategic reserve, which stirred increased altcoin interest on the market.
The crypto market shows signs of recovery as significant investments and the upcoming White House summit boost morale, while Trump-associated DeFi projects remain in focus.
