Crypto Platform Linked to Trump Invests Over $100M in Various Tokens Ahead of Inauguration
The significant buying spree came as World Liberty Financial commenced their token sales just prior to the inauguration of Donald Trump.
Key Points:
- On Monday morning, World Liberty Financial purchased over $100 million worth of cryptocurrencies.
- The platform acquired wrapped bitcoin (wBTC), ether (ETH), TRON’s TRX, AAVE, Ethena’s ENA, and Chainlink’s LINK.
- As of Monday, 85% of WLFI tokens have been sold after a slow start in October.
Detailed Insight:
World Liberty Financial (WLFI), a DeFi platform associated with Donald Trump, spent upwards of millions on cryptocurrencies just hours before the inauguration ceremony. The platform’s address bought over $47 million of wrapped bitcoin (BTC), $47 million of Ethereum (ETH), as well as significant amounts of AAVE and TRON.
Donald Trump at BTC 2024
Donald Trump at BTC 2024
The surge in purchasing came after the WLFI governance token saw increased sales following their relatively weak launch in October. More than 21.7 billion tokens equating to $1.08 billion have been sold, representing over 85% of their total supply.
World Liberty Financial is led by Zachary Folkman and Chase Herro, who previously worked on the DeFi platform Dough Finance, which suffered a crypto asset loss last July. Members of the Trump family, including Donald Trump as ‘Chief Crypto Advocate’, promote the project on social media.
UPDATE (Jan. 20, 17:20 UTC): This article has been updated to reflect the latest token purchases.
