World Liberty Financial (WLFI), a decentralized finance platform tied to Donald Trump and his family, conducted a massive cryptocurrency acquisition on Monday. Hours ahead of Trump’s presidential inauguration, blockchain data from Arkham Intelligence revealed that the platform’s official wallet executed purchases worth over $113 million.
WLFI’s Crypto Buying Spree
The transactions included $47 million allocated to wrapped Bitcoin (wBTC) and an equal sum directed toward Ethereum (ETH). Additionally, $4.4 million worth of AAVE, $4.5 million of TRX (Tron’s native token), and $4.5 million of ENA (Ethena) were acquired. Chainlink’s LINK also saw a $5.5 million purchase. These trades were facilitated through the decentralized exchange CoW in multiple transactions.
This buying activity coincides with a rise in sales of WLFI’s governance token. After a slow launch in October, token sales gained momentum in recent days. Over 21.7 billion tokens, valued at approximately $1.08 billion, have been sold as of Monday morning. This represents 85% of the total 25 billion token supply, as detailed on WLFI’s official website.
TRUMP’S WORLD LIBERTY FI BOUGHT $47M OF BTC AND $47M OF ETH TO CELEBRATE HIS INAUGURATION AS 47TH PRESIDENT OF THE UNITED STATES OF AMERICA pic.twitter.com/ZfdBQsnsG4
— Arkham (@arkham) January 20, 2025
The project is led by Zachary Folkman and Chase Herro, both of whom have prior experience in decentralized finance. Their previous venture, Dough Finance, faced a $2 million exploit last July, which resulted in a significant loss of funds.
Members of the Trump family are closely associated with WLFI. Donald Trump has taken on the role of “Chief Crypto Advocate” for the project, publicly promoting the platform through various social media channels. Eric Trump and Donald Trump Jr. have been designated as “Web3 Ambassadors,” while Barron Trump is listed as the “DeFi Visionary” for the initiative.
The significant investments by WLFI’s wallet come as the project gains traction in the decentralized finance space, with the latest purchases highlighting an aggressive strategy to strengthen its crypto portfolio.
Also Read: Bitcoin Price Slips as Crypto Excluded from Trump’s Key Agenda
Source: https://www.cryptonewsz.com/trump-wlfi-invests-over-113m-wrapped-bitcoin/