Donald Trump’s new crypto venture, World Liberty Financial, has purchased $12 million worth of digital assets, including Ethereum (ETH), Chainlink (LINK), and Aave (AAVE). Blockchain data reveals that the multi-signature wallet tied to the venture spent most of its funds on Ethereum, with smaller amounts allocated to Chainlink and Aave.
Significant investments in Ethereum, Chainlink, and Aave
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
According to information from Etherscan, the wallet connected to World Liberty Financial converted 10 million USDC into 2,631 ETH at an average price of $3,801 per token. The venture also acquired 41,335 LINK for 1 million USDC at an average price of $24.2 per token. In addition, the firm used another 1 million USDC to buy 3,357 AAVE tokens at an average price of $297.8 each. These transactions were completed in less than 24 hours, signaling a significant entry into the cryptocurrency market.
The firm, led by Trump and his family, aims to provide financial services tailored to cryptocurrency investors. World Liberty Financial plans to offer lending, borrowing, and investment opportunities, catering to the growing demand for crypto-related financial products.
WLFI token sale raises $66.2 Million
World Liberty Financial has also introduced its native cryptocurrency, WLFI, as part of its financial ecosystem. The token sale began on October 15 and was restricted to accredited U.S. investors with a net worth exceeding $1 million, excluding primary residence. The sale has raised $66.2 million, with 4.43 billion tokens sold out of a total supply of 20 billion.
The token distribution allocates 20% to the founding team, including Donald Trump and his three sons, while 17% is reserved for user rewards. The remaining 63% is available to the public. Over 100,000 investors joined the whitelist before the sale began, highlighting strong interest in the venture.
Controversy surrounds Trump’s crypto project
Despite its early success, the project has faced criticism. Ethics experts have expressed concerns about the potential influence of investments on U.S. policy decisions. Trump’s spokesperson, Karoline Leavitt, defended the venture, stating that it reflects the president-elect’s commitment to empowering Americans through innovation.
Trump has also demonstrated support for the crypto industry by appointing pro-crypto candidates to key roles in his upcoming administration. Among them is Paul Atkins, who is expected to lead the U.S. Securities and Exchange Commission (SEC).
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