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Cryptocurrency News Articles
Donald Trump's Family Crypto Business, World Liberty Financial, Stacks Millions Worth of Ethereum, Chainlink, and AAVE
Dec 12, 2024 at 03:49 pm
On-chain data shows that the decentralized finance (DeFi) protocol World Liberty Finance (WLFI) has gone on an altcoin acquisition spree.
Donald Trump’s family crypto business, World Liberty Financial, has been on an altcoin acquisition spree. On-chain data shows that the decentralized finance (DeFi) protocol is stacking millions of USDC to buy major cryptocurrencies like Ethereum, Chainlink, and Aave.
According to Etherscan, a wallet tied to World Liberty Financial began acquiring Aave (AAVE) early Thursday. The protocol spent 1 million USDC to purchase 3,357 AAVE in over ten transactions, bringing its total AAVE stash to 12,887 AAVE ($3.8 million). On average, each AAVE token cost the DeFi protocol around $297.8.
Afterward, the WLFI “0x5bE9” address started acquiring Chainlink (LINK). The protocol used another 1 million USDC to buy 41,335 LINK at an average cost of $24.2 per coin through the CoW Protocol.
Lastly, the World Liberty Financial address bought $10 million worth of Ethereum. Specifically, the platform spent USDC to acquire 2,631 ETH at an average cost of $3,801, taking its stash to 14,574 ETH ($57.2 million).
At press time, the WLD altcoin wallet’s value stands at $17.5 million. The wallet also boasts other notable assets like Coinbase Wrapped Bitcoin, the USDT and USDC stablecoins, and some meme coins.
Related Reading | Donald Trump Jr. Hypes Bitcoin Cash, Sparks Outrage In Crypto Community
Trump’s Wallet Nears $10M
Interestingly, World Liberty Financial’s flair for Ethereum also mirrors Donald Trump’s crypto portfolio. The U.S. President-elect has a staggering amount of his portfolio denominated in the second-largest cryptocurrency by market capitalization.
According to Arkham, Trump’s personal wallet address now holds 495 ETH ($1.95 million) and 479 wETH ($1.89 million). Aside from the asset, other notable tokens in the wallet are memecoins TROG ($3.5 million) and TRUMP ($1.01 million).
Meanwhile, Trump’s crypto portfolio is closing in on the $10 million value mark after adding $2.55 million in the past 24 hours. At the time of writing, the address holds $9.7 million worth of cryptocurrencies.
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