Trump Family Bets on Crypto: The Ambitions and Mysteries Behind WLFI

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The Trump family's DeFi project WLFI has made waves in December this year, sparking market discussions. They invested $45 million to purchase a large amount of cryptocurrency, including ETH, cbBTC, LINK, and more. This move showcases the project's financial strength but also raises curiosity about who the big players behind WLFI are.

What did WLFI spend $45 million on?

According to blockchain data, WLFI began gradually purchasing the following crypto assets starting from the end of November:

8,100 ETH

Over 100 cbBTC

Other DeFi tokens such as LINK, AAVE, etc.

Although these purchases have increased WLFI's asset reserves, the project's progress has not met expectations. They plan to raise $300 million through token sales, but so far, only a quarter has been completed. The project's largest investor, Sun Yuchen, invested $30 million, holding a significant position.

Despite this, WLFI has made breakthroughs in community governance. For example, the community recently passed a proposal to deploy Aave v3 lending instances on Ethereum, which is expected to bring new users and liquidity to the platform.

Who are the big players behind it?

In addition to Trump and his family members, WLFI has five co-founders, none of whom are well-known figures in the crypto space.

The project relies on the influence of the Trump family and the investment support from Sun Yuchen to sustain its early development.

However, the outside world remains cautious about whether these "new faces" leading the project can succeed.

Market Response: Trust and Doubt Coexist

WLFI's actions have elicited polarized evaluations:

Supporters believe that the Trump family's endorsement and community governance innovations may drive project growth.

Skeptics argue that such major moves are common in startups, but few ultimately succeed, especially in the absence of a well-known technical team.

Uncertain Future, Worth Watching

Although there are controversies surrounding WLFI’s team background and the market response is complex, its actions in the DeFi space have already attracted significant attention. In the future, whether this project can stand out may depend on its subsequent technological innovations and marketing capabilities, as well as whether it can truly gain users' trust.

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