Coinspeaker Trump-Backed World Liberty Financial Spends $45 Million on Crypto Investments
The newly elected US president’s crypto-focused DeFi project World Liberty Financial has continued to invest heavily in the digital asset space, spending up to $45 million this month on various cryptocurrencies.
On-chain data provider Lookonchain revealed on its X Page that, since November 30, World Liberty has spent 30 million USDC USDC $1.00 24h volatility: 0.0% Market cap: $42.05 B Vol. 24h: $6.04 B to purchase 8,105 ETH ETH $3 921 24h volatility: 1.1% Market cap: $472.25 B Vol. 24h: $31.87 B and another 10 million USDC to buy 103 Coinbase Wrapped BTC cbBTC $103 884 24h volatility: 1.1% Market cap: $2.09 B Vol. 24h: $401.40 M . The project also made investments in other digital currencies, including 2 million USDC to purchase LINK LINK $29.70 24h volatility: 3.9% Market cap: $18.77 B Vol. 24h: $2.63 B and another 2 million USDC to acquire AAVE AAVE $381.7 24h volatility: 6.4% Market cap: $5.75 B Vol. 24h: $1.64 B . Additionally, 500,000 USDC was invested into ENA, and recently, 250,000 USDC was used to buy ONDO ONDO $2.02 24h volatility: 10.6% Market cap: $2.91 B Vol. 24h: $642.07 M .
Nicolai Søndergaard, a researcher at Nansen, told Bloomberg that World Liberty’s token purchases could be a strategy to build trust among investors or the broader crypto community. The analyst also suggested these acquisitions might draw attention to the tokens, aligning their success with the project’s perceived potential.
World Liberty, introduced in September, positions Trump as its chief crypto advocate, with his sons serving as key ambassadors. The project aims to revolutionize DeFi while maintaining significant family control. Their affiliated company is set to receive 75% of net revenues.
Justin Sun’s $30 Million Boost Strengthens Project
Despite initial challenges in selling the native WLFI token, the project gained significant support from prominent blockchain entrepreneur Justin Sun, who invested $30 million. This made Sun the largest investor, and he was subsequently appointed as an adviser.
However, Sun has faced legal battles with the Securities and Exchange Commission (SEC) after being accused of selling unregistered securities. Trump has vowed to reform the agency, making it more crypto-friendly. His nomination of Paul Atkins as the new SEC chair underscores this commitment.
AaveDAO Collaboration Expands DeFi Potential
Furthermore, AaveDAO, the decentralized organization behind the Aave protocol, approved World Liberty’s proposal on December 13 to launch its own version. This version will enable borrowing and lending of assets like Ether, Wrapped Bitcoin WBTC $103 542 24h volatility: 1.2% Market cap: $14.03 B Vol. 24h: $440.88 M , USD Coin (USDC), and Tether USDT $1.00 24h volatility: 0.1% Market cap: $140.27 B Vol. 24h: $36.51 B . In return, World Liberty will allocate 20% of the fees generated to AaveDAO and transfer 7% of its WLFI token supply — valued at $21 million based on a token price of 1.5 cents.
The project marks a significant shift in Trump’s public stance on cryptocurrencies, having previously expressed skepticism about digital currencies. World Liberty’s aggressive acquisition of various digital assets could encourage other institutions to begin mass accumulation, potentially boosting the broader crypto market.
The expansion of World Liberty Financial could draw significant attention, as many are eager to see how this high-profile venture might influence the future of digital finance and regulatory policies. Additionally, Trump’s recent embrace of crypto and DeFi could play a pivotal role in steering the industry’s direction in the coming years.
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Trump-Backed World Liberty Financial Spends $45 Million on Crypto Investments
