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Cryptocurrency News Articles
World Liberty Financial Announces Strategic Cryptocurrency Purchases to Commemorate Trump's Inauguration
Jan 21, 2025 at 12:04 pm
As Donald Trump took oath as the 47th President of the U.S. on Monday, World Liberty Financial, a cryptocurrency project backed by him, announced a series
As Donald Trump took oath as the 47th President of the U.S. on Monday, World Liberty Financial, a cryptocurrency project backed by him, announced a series of strategic purchases, including Ethereum (ETH/USD) and Wrapped Bitcoin (WBTC/USD).
What Happened: In an X post, the decentralized finance platform disclosed buying several cryptocurrencies, including $47 million each in ETH and WBTC, a converted version of BTC that can be used on Ethereum’s blockchain.
With the latest purchase, World Liberty Financial’s total ETH holdings went up to 57,115, worth over $185 million at the current market price, according to on-chain analytics firm Arkham. WBTC was its second-largest holding.
Other significant buys included $4.7 million worth of Tron (TRX/USD), Aave (AAVE/USD), Chainlink (LINK/USD), and Ethena (ENA/USD).
World Liberty Financial said the purchases commemorated Trump’s inauguration.
To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce the following strategic purchases today:
$47,000,000 ETH
$47,000,000 wBTC
$4,700,000 Aave
$4,700,000 LINK
$4,700,000 TRX
$4,700,000 ENA
Excited for the... https://t.co/0000000000000000000000000000000000000000000000000000000000000000 …
See Also: Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover
Why It Matters: World Liberty Financial has been gradually accumulating DeFi-linked cryptocurrencies such as ETH, AAVE, and LINK to build its platform.
Launched as a decentralized money market last year, the protocol will allow users to borrow, lend, and earn interest on cryptocurrencies. The WLFI token would serve as the platform's governance token, enabling users to participate in DeFi-related activities.
The project was aggressively promoted by Trump and his family, and a firm associated with the President-elect, DT Marks DEFI, LLC, is set to receive 75% of the protocol revenue.
Price Action: At the time of writing, Ethereum was trading at $3,257.31, down 0.37% over the last 24 hours, according to data on Benzinga Pro. Meanwhile, TRX was up 3.72%, and LINK gained marginally by 0.04%.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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