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Donald Trump’s World Liberty Financial Spends $12M in 24 Hours on 3 Cryptocurrencies

Donald Trump’s World Liberty Financial Spends $12M in 24 Hours on 3 Cryptocurrencies

CCNCCN2024/12/11 16:00
By:CCN
Key Takeaways
  • Donald Trump-backed World Liberty Financial has invested $12 million in three cryptocurrencies over the past 24 hours.
  • The backing comes after the project significantly slashed its $300 million token sale target to just $30 million. ]
  • Despite President-elect Trump’s backing of WLFI, the project has failed to spark significant excitement in the industry.

World Liberty Financial (WLFI), the decentralized finance project endorsed by President-elect Donald Trump, has made three significant investments in three cryptocurrencies in under 24 hours.

The project has spent $12 million on Ethereum (ETH), Chainlink (LINK), and Aave (AAVE) using USD Coin (USDC).

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Three Major Investments

According to Etherscan data on Dec. 12, WLFI purchased 2,631 ETH for $10 million, marking the bulk of the project’s recent investments.

Trump's World Liberty( @worldlibertyfi ) is buying $ETH , $LINK and $AAVE !

In the past 9 hours, the World Liberty Multisig wallet spent 10M $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8. https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ

— Lookonchain (@lookonchain) December 12, 2024

The project acquired 41,335 LINK and 3,357 AAVE for 1 million USDC each.

All the tokens saw significant surges after the purchases, with AAVE rising over 33% and LINK growing 20% within 24 hours.

Ethereum also saw an increase of 6% in a day.

WLFI Gets Justin Sun Boost

The move follows Tron founder Justin Sun becoming the project’s largest investor after he purchased $30 million worth of the project’s tokens.

Before Sun’s purchase, only $20 million worth of WLFI had been sold.

We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump ! TRON is committed to making America great again and leading innovation. Let's go! pic.twitter.com/cISTsVYP1f

— H.E. Justin Sun 🍌 (@justinsuntron) November 25, 2024

“We are thrilled to invest $30 million in World Liberty Financial as its largest investor,” Sun wrote in a Nov. 25 X post.

“TRON is committed to making America great again and leading innovation,” he added.

What urged Sun to invest so highly in the project is not fully understood, especially as it has been slow to grow. Some believe it could be a way for the controversial crypto magnate to get closer to the Trump administration.

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Slow to Grow

Initially, the project aimed for a $300 million token sale target but downsized to a $30 million goal as interest has been slow.

According to the WLFI website , 4.43 billion tokens have been sold at a price of $0.015 per WLFI, raising roughly $664.5 million.

The renewed smaller target means the project met its goal after Sun’s backing. This activated the project’s revenue sharing clause, meaning the Trumps can now receive some of its revenue.

According to WLFI’s “gold paper,” Trump’s company, DT Marks DEFI LLC, can receive 75% of the project’s net revenues when it makes $30 million.

The project is still unknown. WLFI said it focuses on stablecoin payments, borrowing and lending services, and liquidity pools, but no further details have been provided.

Despite President-elect Trump’s endorsement of the project, WLFI continues failing to spark excitement in the industry.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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