World Liberty Financial, a DeFi project tied to President Donald Trump, spent $100 billion on a basket of cryptocurrencies shortly before the inauguration.
The 47th U.S. President and his crypto team accumulated significant amounts of major cryptocurrencies via the decentralized financial platform World Liberty Financial (WLFI). WLFI’s on-chain address acquired approximately $47 million worth of Ethereum (ETH), Aave (AAVE) coins worth $4.4 million, and $4.5 million of Justin Sun’s Tron (TRX).
According to Arkham Intelligence data, the Trump-linked DeFi platform also scooped Wrapped Bitcoin (WBTC) valued at $47 million, $5.5 million Chainlink (LINK), and $4.5 million in Ethena Labs tokens (ENA).
Trump’s sons, Eric Trump and Donald Trump Jr., are listed as “Web3 Ambassadors” on WLFI’s official website, while President Trump himself is described as the project’s “Chief Crypto Advocate.” Barron Trump, the youngest Trump son, also features under the title of “DeFi Visionary.”
WLFI also includes DeFi veterans like Chase Herro and Zachary Folkman on its team. Both Herro and Folkman were previously part of Dough Finance, which was exploited for $2 million in cryptocurrencies last July.
The investments into digital assets noted on Jan. 20 coincided with WLFI token sales gaining momentum in the days leading up to Trump’s inauguration in Washington. According to the platform’s website, WLFI has sold 85% of its 25 billion token supply—about 21.7 billion tokens worth over $1 billion—following a slow start in October last year.
Read the full article here