According to ChainCatcher news reported by The Block, on-chain data shows that the Trump family's crypto project World Liberty Financial (WLFI) bought $5 million worth of ETH on Wednesday. This brings the project's total ETH balance to over $50 million, mainly accumulated in the past few weeks.
The wallet conducted three independent transactions approximately four hours ago, receiving 1,285 ETH from CoW Swap. The wallet appears to be using profits from the ongoing WLFI token sale to purchase these ETH, mainly through its substantial holdings of stablecoins. The company also seems to be sending funds directly from the World Liberty contract address starting with 0xe217e15b to a wallet starting with 0x5be9a495, which has no outgoing transactions.
Analysis indicates that converting stablecoins to ETH suggests that World Liberty Financial is seeking to engage more deeply in the crypto economy. It may also indicate that the team believes ETH is a better reserve asset than the dollar. Notable Ethereum investor and advisor Eric Conner was the first to notice these transactions, stating in a private message: 'They converted all the stablecoins they received into ETH.'
