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, a decentralized finance (DeFi) project linked to former U.S. President Donald Trump, made substantial cryptocurrency purchases amounting to nearly $100 billion on the eve of his inauguration.

As per on-chain data, Trump's crypto team made these vast investments through World Liberty Financial (WLFI).

According to Arkham Intelligence, on-chain movements indicate that a crypto address linked to the platform acquired around $47 million in Ethereum (ETH), $4.4 million in Aave (AAVE) coins, and $4.5 million in Justin Sun's Tron (TRX).

The platform also acquired Wrapped Bitcoin (WBTC) valued at $47 million, $5.5 million in Chainlink (LINK), and $4.5 million in Ethena Labs tokens (ENA).

These massive cryptocurrency purchases by a platform linked to Trump come as his sons, Eric Trump and Donald Trump Jr., are listed as "Web3 Ambassadors" on WLFI's official website.

Meanwhile, President Trump is described as the project's "Chief Crypto Advocate," and his youngest son, Barron Trump, features under the title of "DeFi Visionary."

On the other hand, Trump's crypto team includes DeFi veterans like Chase Herro and Zachary Folkman. Both Herro and Folkman were previously part of Dough Finance, which was exploited for $2 million in cryptocurrencies in July last year.

The investments into digital assets on Jan. 20 also coincided with WLFI tokens gaining momentum in the days leading up to Trump's inauguration in Washington.

As per the platform's website, WLFI has sold 85% of its 25 billion token supply, which equates to roughly 21.7 billion tokens valued at over $1 billion, following a sluggish start in October last year.