As the crypto industry awaits signs that the new US administration will implement plans to create a crypto-friendly regulatory framework, World Liberty Financial, a crypto project supported by the First Family, took advantage of Trump’s inauguration by making a series of strategic crypto purchases, including Ethereum and Wrapped Bitcoin.
The decentralized finance (DeFi) platform revealed via an X post that it had bought several cryptocurrencies, including at least $47 million each worth of Wrapped Bitcoin (WBTC), a converted form of BTC that can be used on the Ethereum ecosystem and Ethereum (ETH). With the latest acquisition, World Liberty Financial has a total ETH holding of 57,115 tokens worth at least $185 million, with WBTC being its second largest crypto holding.
First Family’s Net Worth Just Exploded
Just last Friday night, who-is-who’s in the world of crypto rubbed shoulders with the political elites of the new US administration and members of the new President’s inner circle at the Crypto Ball held at an opulent location just across the street from the White House. And as that was happening, the first family’s net worth was just about to explode at the seams from a meme coin that didn’t exist until then.
Donald Trump launched the $TRUMP the same night on the Solana platform, whose market capitalization rose beyond $14 billion. According to the meme coin’s website, the Trump organization and its affiliates hold up to 80% of the tokens.
Trump and Melania Both Launched Meme Coins
Among those who attended the Crypto Ball are leaders of digital asset platforms that enable ordinary investors to purchase Trump’s new meme coin. Some of those present included Kraken CEO Jesse Powell and Coinbase CEO Brian Armstrong. The Trump family wasn’t yet done with their acquisitions, and on Sunday, First Lady Melania Trump was also at it with her launch of the $MELANIA meme coin. The token spiked over 40% and surpassed $2 billion in market capitalization. The additional purchases made by World Liberty Financial, whose token’s price has risen from $0.15 to $0.05, released an extra 5 billion tokens for sale.
World Liberty Financial (WLFI), the crypto project backed by the first family, also recently made another purchase of TRON’s TRX. As per on-chain data that is supported by a statement from TRON founder Justin Sun:
“As a strong advocate for blockchain technology and innovation in cryptocurrencies, I’m excited to see World Liberty Financial integrate TRON as a key part of its growing treasury. TRX’s inclusion as the fourth-largest asset in WLFI’s holdings highlights its trust in the Tron blockchain network.”
WLFI Plans to Bridge Gap between Traditional and Crypto Finance
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The latest purchase amounted to at least $2.6 million, which adds to some $10.8 million worth of TRX already in the World Liberty Financial treasury. Sun further added:
“With WLFI leading efforts to bridge traditional finance and crypto and the Trump administration’s pro-crypto stance, the United States will become a major hub for innovation and cryptocurrency adoption.”
Apart from the latest acquisitions, the World Liberty Financial treasury reportedly holds another $7.2 million in Tether’s USDT, $7 million in AAVE, and $6.7 million in Chainlink’s LINK. According to the project’s whitepaper, the Trump family is allocated 75% of its crypto coin revenue, meaning it holds millions of dollars’ worth of token transfers.
Conclusion
World Liberty Financial has been on a steady crypto acquisition spree, piling up assets like WBTC, ETH, LINK, and AAVE. Launched as a DeFi platform in 2024, it allows users to borrow and earn interest on their crypto holdings. The WLFI token is the platform’s governance token, enabling holders to engage in DeFi-related activities.
Frequently Asked Questions (FAQs)
What is World Liberty Financial?
WLFI is a DeFi project launched in September 2024, developed as a connection to the family of US President Donald Trump.
What does the project aim to do?
The project promises to promote an innovative DeFi-based banking system that will bypass the regular banking systems and offer users greater freedom over their financial transactions.
What are the project’s key features?
They include savings options, secure payments, and investments backed by blockchain technology. The project is designed to enable peer-to-peer transactions, charging minimal fees while offering enhanced security.
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