World Liberty Financial’s crypto wallet goes active, swaps WBTC for ETH and USDT

A wallet believed to belong to Donald Trump's family crypto venture, World Liberty Financial, has been involved in a series of recent transactions, according to onchain data from Arkham Intelligence.

A wallet linked to World Liberty Financial, a crypto project established by President-elect Donald Trump and his family, has been flagged by blockchain analytics firm Arkham Intelligence.

World Liberty Financial's crypto wallet becomes active, swapping WBTC for ETH and USDT

What the heck is World Liberty Finance (aka. Trump) doing swapping ~10m WBTC for ETH through COW.

Please pump my ETH bags Mr. Orange man. pic.twitter.com/DjpfbIWiNd

— Smol capital (@smolresearcharc) January 15, 2025

According to the on-chain data, the wallet exchanged 103.1493 WBTC for 3,075.198 ETH, a transaction valued at approximately $9.917 million. The wallet also converted another 16.6199 WBTC for 1.7 million USDT through the Cow Protocol and later transferred 11,917.635 ETH, worth about $38.396 million, to Coinbase Prime.

Trump launched the crypto venture in mid-September through a live stream on X, describing it as a “decentralized finance” initiative centered around a crypto token called WLFI. Trump appointed three of his sons as the project's Web3 ambassadors, including Eric Trump, Donald Trump Jr., and Baron Trump. However, the project's details remain unclear and confusing.

The news follows Ethana Labs, an Ethereum-based DeFi platform, announcing a strategic partnership with Word Liberty Financial. The collaboration will integrate Ethena's staked synthetic dollar (sUSDe) token into World Liberty Financial's Aave instance.

Justin Sun invests $30 million in World Liberty Financial

The announcement comes after Justin Sun, a Chinese crypto entrepreneur, purchased WLFI tokens worth $30 million, becoming the largest single World Liberty Financial token holder at the time.

Less than a week after Sun's major financial involvement in the project, World Liberty purchased $500,000 worth of ENA tokens at an average price of $0.98. The venture also acquired Ether, AAVE, ONDO, Chainlink, and cbBTC for about $30 million.

The venture sold only 848.63 million WLFI tokens for $12.7 million in its first 24 hours, leaving 19.1 billion tokens up for grabs. Afterward, the venture's token sales slowed down.

According to World Liberty Financial's official website, Trump and his family have sold a total of 5.33 billion WLFI tokens at an average price of $0.015 per token. World Liberty Financial's website shows that the venture still has 14.65 billion tokens available for purchase.

Crypto investors bet on Trump to transform the crypto after his inauguration

While the project serves as a significant indication of Blockchain technology's rapid growth, a few concerns have been raised by critics regarding conflict of interest. The launch of a new crypto token raises questions about investors buying into the project to gain influence or Trump pushing on regulators to greenlight his personal businesses, especially now that agencies like the SEC and Commodity Futures Trading Commission have received pro-crypto appointments from the President-elect.

Trump has been a strong advocate of crypto and blockchain technology. He surprised the world last year during his campaigns by addressing crypto enthusiasts at the Bitcoin Conference 2024 event in an attempt to persuade crypto investors to vote for him.

Trump made promises to the crypto community, making him the best alternative for U.S.-based crypto voters. His victory against Kamala Harris in the presidential elections sparked a wave of optimism as crypto investors began to hope Trump would deliver on his promises, including ending Biden's war on crypto and establishing a BTC reserve for the U.S. Treasury. The president-elect is expected to influence crypto policies in favor of the crypto industry in the U.S.

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