World Liberty Financial, the decentralized finance project backed by U.S. President Donald Trump, has made another $10 million purchase of Ethereum.
Ethereum (ETH) price has struggled for upside momentum as Bitcoin (BTC) hit new all-time high above $108k.
However, Trump-backed World Liberty Financial has emerged as one of the top buyers of Ethereum, the largest altcoin by market capitalization.
After purchasing $47 million worth of Ethereum on Trump’s inauguration day, the decentralized finance project has now acquired an additional $10 million in two separate transactions. The latest purchase, made on January 31, saw World Liberty Financial spend 10 million USDT to acquire 2,972 Ethereum.
You might also like: MOVE surges 15% as World Liberty makes $2m purchase
According to data from Spot On Chain, this transaction pushed the project’s total Ethereum holdings to over 70,000 Ethereum, valued at more than $225 million.
The doubling down on the altcoin makes Ether one of the Trump-backed project’s “ biggest bets in crypto.”
Data from market intelligence and analytics firm Arkham shows World Liberty Financial currently holds more than $428 million in various cryptocurrencies. These include $225 million in ETH, $68 million in wrapped Bitcoin, and nearly $66 million in staked Ethereum.
Ethereum price has gained by approximately 4.6% in the past 24 hours, trading to an intraday high of $3,420 on major crypto exchanges. However, despite the purchases, ETH remains largely stagnated below $4,000, having retreated from this level in mid-December 2024.
Fresh momentum amid the inflows into spot Ethereum ETFs seen this week may nonetheless fuel a push above the crucial level.
You might also like: Bitwise’s Bitcoin-Ethereum ETF gets initial SEC nod
