World Liberty Financial, a decentralized finance platform with ties to former President Donald Trump and his family, made a significant cryptocurrency purchase on Monday, acquiring over $100 million worth of various tokens. This move coincided with a surge in the sales of its governance token, WLFI, and occurred hours before Trump's inauguration ceremony.
World Liberty Financial, a decentralized finance (DeFi) platform associated with incoming President Donald Trump , made significant cryptocurrency purchases on Monday morning. On-chain data revealed that the protocol acquired over $100 million worth of various tokens within a few hours. The acquired crypto assets included wrapped bitcoin (wBTC), ether (ETH), Tron's TRX, AAVE, Ethena's ENA, and Chainlink's LINK.
These transactions occurred just hours before Trump's inauguration ceremony and coincided with a recent surge in the sales of World Liberty Financial's governance token, WLFI. Since October, the token's price has seen an increase, and over 21.7 billion tokens (valued at $1.08 billion) have been sold as of Monday morning. This represents over 85% of the total 25 billion token supply.World Liberty Financial is spearheaded by Zachary Folkman and Chase Herro, who previously worked on the DeFi platform Dough Finance. Dough Finance experienced a $2 million exploit in July, draining its crypto assets. Notably, members of the Trump family, including Donald Trump himself, have actively promoted the project on social media. The incoming president holds the title of 'Chief Crypto Advocate,' while his sons Eric Trump and Donald Trump Jr. serve as 'Web3 Ambassadors.' Even his youngest son, Barron Trump, is listed as 'DeFi Visionary.
Finance CRYPTOCURRENCY Defi WORLD LIBERTY FINANCIAL DONALD TRUMP INAUGURATION
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