World Liberty Financial Purchases Millions in Crypto Before Trump’s Inauguration
In a flurry of crypto purchases, World Liberty Financial (WLFI), a decentralized finance (DeFi) platform linked to Donald Trump and his family, made significant acquisitions just hours before Trump’s inauguration ceremony.
According to blockchain data from Arkham Intelligence, WLFI’s wallet address bought over $47 million worth of wrapped bitcoin (BTC), $47 million worth of Ethereum (ETH), $4.4 million of AAVE, and $4.5 million of Tron’s TRX. Additionally, the address secured $4.5 million worth of Ethena’s ENA and $5.5 million worth of Chainlink’s LINK in more than a dozen transactions conducted via decentralized exchange CoW.
This buying spree coincided with a surge in the sales of WLFI’s governance token, which had seen a lackluster launch last October. As of Monday morning, over 21.7 billion tokens ($1.08 billion) have been sold, accounting for more than 85% of the total 25 billion token supply, according to the project’s website.
WLFI is led by Zachary Folkman and Chase Herro, both of whom previously worked on the DeFi platform Dough Finance, which suffered a $2 million loss due to a July exploit. Members of the Trump family, including Donald Trump, have publicly endorsed the project on social media. Trump has been dubbed the “Chief Crypto Advocate” for WLFI, with his sons, Eric and Donald Trump Jr., serving as “Web3 Ambassadors” and his other son, Barron Trump, listed as a “DeFi Visionary.”
