The World Liberty Financial (WLFI) project, backed by Donald Trump and his family, made substantial cryptocurrency investments, spending $44.75 million since November 30. According to Lookonchain and Arkham Intelligence, WLFI steadily increased its investments, suggesting significant plans in the crypto industry.
WLFI’s Cryptocurrency Purchases
Starting November 30, WLFI invested substantial sums in cryptocurrencies, including $30 million in Ether (ETH) and $10 million in Coinbase Wrapped Bitcoin (cbBTC). The project also purchased $250,000 worth of Ondo (ONDO) on December 15, following a $500,000 purchase of Ethena (ENA) the day before. Among other acquired assets are Chainlink (LINK) and Aave (AAVE), each costing $2 million. Major purchases occurred on December 12, when WLFI acquired 2,631 ETH for $10 million.
What Is World Liberty Financial?
Despite significant investments and high-profile backing, World Liberty Financial remains somewhat mysterious. The stated focus of WLFI is on stablecoin payments, borrowing and lending services, and liquidity pools. However, detailed plans or use cases are yet to be disclosed. The WLFI website states that $74.55 million was raised by selling 4.97 billion tokens for $0.015 each.
Trump’s Changing Stance on Crypto
Donald Trump's involvement with WLFI marks a stark contrast to his earlier skepticism toward cryptocurrencies. In recent years, Trump has voiced support for the crypto sector in the U.S., striving to make the country a 'crypto capital' and advocating 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 electoral win fueled expectations of a friendlier regulatory environment for the industry, with Bitcoin surging past $100,000. Trump also appointed pro-crypto figures to key roles, such as Paul Atkins as chair of the SEC and former PayPal executive David Sacks as the crypto and AI czar.
World Liberty Financial displays significant investment activity in the cryptocurrency market, potentially playing a crucial role in its further development. The investments, backed by Donald Trump and major stakeholders, could make WLFI a prominent player in this field.
