Donald Trump’s World Liberty Financial has made a significant investment in cryptocurrency, purchasing $21.5 million worth of Ethereum, Wrapped Bitcoin, and Movement Network tokens.
Donald Trump’s World Liberty Financial has made a significant investment in cryptocurrency, purchasing $21.5 million worth of Ethereum, Wrapped Bitcoin, and Movement Network tokens, according to on-chain analytics platform Spot On Chain.
These transactions were carried out using USDC from a newly created multi-signature wallet, which now has a remaining balance of $3.5 million, as of Monday. The fund bought 4,468 Ethereum for $10 million, at an average price of $2,238 per coin. It also acquired 110.6 Wrapped Bitcoin for another $10 million at a price of $90,420 per coin, as well as 3.42 million Movement tokens for $1.5 million, at a rate of $0.439 each.
The latest acquisitions align with the Trump administration’s broader efforts to establish a U.S. strategic crypto reserve. On March 2, Trump directed the President’s Working Group on Digital Asset Markets to develop a reserve comprising key cryptocurrencies. Initial reports suggested that assets like Ripple (XRP), Solana (SOL), and Cardano (ADA) would be included, but Trump later clarified that Bitcoin (BTC) and Ethereum would be the primary focus.
However, the move has sparked debate. Samson Mow, CEO of Jan3Com, expressed skepticism about including altcoins like XRP, Solana, Cardano, and Ethereum in the proposed reserve.
“I don’t think Deep State Congress would approve of including any altcoins other than BTC and maybe ETH in a U.S. strategic crypto reserve,” Mow stated in response to a question about the possibility of XRP, Solana, Cardano, and other altcoins being part of the reserve.
While Trump mentioned these assets, Mow highlighted that he lacks the authority to determine the reserve’s composition unilaterally. Establishing such a reserve would require a formal proposal, a working group report, and congressional approval before any final decision could be made.
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