Donald Trump-Backed Crypto Project World Liberty Financial Snaps Up Millions of Dollars Worth of Ether (ETH)

World Liberty Financial bought up 14,403 Ether (ETH)

Crypto project World Liberty Financial, which is backed by former U.S. President Donald Trump, has quietly snapped up millions of dollars worth of Ether (ETH) as the token has seen a slight uptick in strength against Bitcoin.

According to Arkham Intelligence data, World Liberty Financial bought up 14,403 ETH on Jan. 18, bringing the platform's total ETH holdings to 33,630 ETH, currently valued at over $107 million.

The ETH/BTC ratio, which shows Ether's relative strength to Bitcoin, has seen a slight increase over the past week, rising from 0.071 on Jan. 13 to 0.074 on Jan. 19.

The token is also up around 1.5% over the past 24 hours, trading at $3,230 at the time of writing, and is showing a slight decrease in momentum after rallying by 20% last week.

The purchases follow Trump's surprise memecoin launch on the Solana network, which saw a wave of buying pressure hit the native Solana (SOL) token and propel it up by 75% in 24 hours.

However, the price of Trump's token nosedived by 38% within 40 minutes of the launch as his wife also launched her own memecoin.

World Liberty has not disclosed the motivation behind the ETH purchases, but Trump's son Eric, an adviser to the platform, teased in a Jan. 19 X post that the platform has something in the works.

“Wait until you see what they do tomorrow,” he wrote.

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