What to know:
- World Liberty Financial, the DeFi platform linked to incoming President Donald Trump, bought over $70 million worth of tokens within a few hours on Monday morning.
- The protocol purchased wrapped bitcoin (wBTC), ether (ETH), Tron’s TRX, AAVE, Ethena’s ENA and Chainlink’s LINK, on-chain data showed.
- The WLFI tokens are now 85% sold out as of Monday after middling start in October.
On a bustling Monday prior to Donald Trump’s inauguration ceremony, World Liberty Financial (WLFI), the financially decentralized platform associated with Trump and his kin, splurged millions of dollars on cryptocurrencies in an enthusiastic buying spree.
As a researcher delving into the intricacies of blockchain, I uncovered that my analysis wallet has made significant purchases. Specifically, it acquired approximately $23.5 million worth of wrapped bitcoin (BTC), $29 million of Ethereum’s ETH, $4.4 million of AAVE, and $4.5 million of Tron’s TRX. Data from Arkham Intelligence confirms these transactions. Furthermore, the wallet also invested over $4.5 million in Ethena and $5.5 million in Chainlink’s LINK, executing more than a dozen transactions via the decentralized exchange CoW.
The recent days have seen an increase in transactions following a surge in demand for the governance token WLFI, which began selling moderately last October. As of Monday morning, approximately 21.7 billion tokens (equivalent to $1.08 billion) have been sold, representing over 85% of the total 25 billion supply.
World Liberty Financial, led by Zachary Folkman and Chase Herro, hails from a team that previously focused on the DeFi platform Dough Finance. Unfortunately, this platform suffered a significant setback in July when approximately $2 million worth of cryptocurrency was drained due to an exploit. Notably, members of the Trump family, including Donald Trump, endorsed the project publicly via social media. In this capacity, Donald Trump held the title of “Chief Crypto Advocate.” Among other family members, Eric Trump and Donald Trump Jr. are serving as “Web3 Ambassadors,” while Barron Trump is listed as a “DeFi Visionary.
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2025-01-20 19:02