Donald Trump’s crypto venture, World Liberty Financial, made a major crypto acquisition in December. Most recently, it bought $250,000 worth of Ondo (ONDO) tokens, bringing its total spending to close to $45 million. The project’s portfolio also includes crypto assets such as AAVE, cbBTC, and ENA.
Trump’s project also acquired ONDO along with AAVE and others$AAVE
According to a Dec. 16 X-post by blockchain tracking platform Lookonchain and data from Arkham Intelligence, starting Nov. 30, a wallet belonging to World Liberty purchased $30 million worth of Ether and $10 million worth of Coinbase Wrapped BTC (cbBTC). Lookonchain reported that World Liberty last purchased $250,000 worth of Ondo (ONDO) at around 14:00 GMT on Dec. 15. This transaction came a day after it purchased $500,000 worth of Ethena (ENA). It also made $2 million worth of purchases from Chainlink and Aave earlier this month, bringing its total to $44.75 million.
The project, which was introduced in September, bills itself as a decentralized finance (DeFi) platform for crypto trading. Trump is the project’s “chief crypto advocate,” while his sons Donald Jr., Eric and Barron are also listed as “ambassadors.” A family-owned company is entitled to 75 percent of the project’s net revenues. Nansen research analyst Nicolai Søndergaard told Bloomberg that World Liberty’s token purchases are intended to build trust or emphasize that if it’s successful, the project will be successful.
Latest status with WLFI token$WIF
The project has struggled to meet its sales target for its eponymous World Liberty Financial (WLFI) token. So far, only a quarter of the $300 million WLFI offering has been sold. However, last month, a $30 million investment from Tron blockchain founder Justin Sun provided a significant boost to the project. Sun joined the project as the largest investor and later took on an advisory role. Sun and Tron were accused of selling unregistered securities by the Securities and Exchange Commission (SEC).
On Dec. 13, the autonomous collective behind the Aave protocol, AaveDAO, proposed that World Liberty be allowed to deploy its own version. World Liberty plans to lend and borrow with Ether, Wrapped Bitcoin (WBTC), and stablecoins like USD Coin (USDC) and Tether (USDT). Additionally, 20 percent of fees generated by AaveDAO and 7 percent of WLFI’s $21 million supply will be paid at 1.5 cents per token.