The Trump family's DeFi project, World Liberty Financial, has spent $12 million in just nine hours to buy cryptocurrencies such as ETH, LINK, and AAVE, indicating a strong preference for ETH. Meanwhile, Eric Trump, the second son of Trump and current Executive Vice President of the Trump Organization, stated on Tuesday that Bitcoin is a better investment than real estate. (Background: Full text of Trump's speech) I endorse cryptocurrency! Why does World Liberty Financial want to issue the WLFI token?) (Background information: Will Trump's crypto project World Liberty Financial become Ethereum's savior? Lending and issuing $WLFI backed by SEC regulation) According to Lookonchain monitoring, the Trump family's DeFi project World Liberty Financial's multisig address spent $12 million to buy cryptocurrencies such as ETH, LINK, and AAVE in just nine hours, with specific amounts as follows: Spent 10 million USDC to buy 2,631 ETH at an average price of $3,801; spent 1 million USDC to buy 41,335 LINK at an average price of $24.2; spent 1 million USDC to buy 3,357 AAVE at an average price of $297.8. Trump's World Liberty (@worldlibertyfi) is buying $ETH, $LINK, and $AAVE! In the past 9 hours, the World Liberty Multisig wallet spent 10M $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8. https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ — Lookonchain (@lookonchain) December 12, 2024 World Liberty Financial officially launched in September this year, providing crypto lending services on Ethereum and issuing non-transferable WLFI tokens. Official documents at the time indicated that the Delaware company DT Marks DEFI LLC, founded by the Trump family, would receive 75% of the WLFI token sale proceeds and could decide on financial management methods. Arkham data shows that the World Liberty Financial multisig address currently holds $74.9 million in cryptocurrencies, with the largest holding being ETH, totaling 14,575.6 coins, worth $57.31 million, which seems to indicate the Trump family's strong preference for ETH. Mechanism Capital partner Andrew Kang tweeted that he previously thought that before the launch of an Ethereum spot ETF, the ETH and ETH/BTC exchange rate was overly hyped, but with Trump using WLFI profits to buy ETH, and the SEC and CFTC chair nominees supporting Ethereum/DeFi, along with the selling pressure of ETHE and the hype of ETFs dissipating, Ethereum no longer looks that bad. Eric Trump: Bitcoin is a better investment than real estate. Meanwhile, Eric Trump, the second son of Trump and current Executive Vice President of the Trump Organization, attended the Bitcoin Middle East and North Africa (MENA) conference in Abu Dhabi on Tuesday and stated in an interview with Bitcoin Magazine that Bitcoin is a better investment than real estate. JUST IN: Eric Trump explains why #Bitcoin is a better investment than real estate. pic.twitter.com/YRUJhIhSNT — Bitcoin Magazine (@BitcoinMagazine) December 10, 2024 Eric Trump explained that the Trump family started with real estate, which is a beloved venture of the Trump family. The Trump family understands real estate better than anyone else, but when it comes to hedging against real estate, that would be Bitcoin. The advantage of Bitcoin is its liquidity; if I want to build a hotel, it might take five years, and if I want to sell that hotel, it might take two years. Real estate has many benefits, such as leverage and tax incentives, but its liquidity is poor. Given the lack of liquidity in real estate, Eric Trump pointed out that if London is a better market, moving Trump Tower from New York to London would be very difficult. In contrast, Bitcoin can be easily transported. It is digital, with no extra costs, no brokers, bankers, lawyers, title companies, or intermediaries, and there are no risks of fire, flood, tornado, or hurricane: this is a very good thing. I believe that cryptocurrency is undoubtedly the future, and I truly believe that those who embrace it early will succeed, while those who refuse to accept it will be left behind. Related reports: Trump family's DeFi project World Liberty went live on September 16: ditch outdated banks and embrace cryptocurrency. Trump family's DeFi project exploded with tokens '70% reserved for insiders,' netizens mock: World Liberty is a joke. Trump will promote a 'high-yield DeFi platform'? Boasting that World Liberty Financial will make the U.S. the global crypto capital.

#ETH