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Cryptocurrency News Articles
World Liberty Financial (WLFI) Buys the Dip, Acquiring 1,587 ETH and 9.7 WBTC
May 10, 2025 at 08:25 am
A recent on-chain transaction has drawn attention to World Liberty Financial (WLFI), a cryptocurrency venture associated with the US President Donald Trump.
World Liberty Financial (WLFI), a cryptocurrency venture linked to US President Donald Trump, is buying up more crypto, according to on-chain transactions.
An X post by Lookonchain seems to show a wallet, believed to be linked to WLFI, acquiring 1,587 ETH (valued at around $3.5 million) and 9.7 WBTC (approximately $1 million).
The post further claims that the wallet has sold 1.4 million LINK (roughly $6.5 million) and 64,000 ATOM (valued at around $1.3 million). It is unclear where the LINK and ATOM tokens went, but they might have been used to purchase ETH and BTC.
World Liberty Financial is a decentralized finance (DeFi) platform that launched earlier this year with Eric Trump and Zachary Folkman serving as co-founders. The project has been quite active in the crypto space, making big acquisitions of major cryptocurrencies. For instance, this January, WLFI purchased $47 million worth of ETH and an equal amount in WBTC to commemorate Trump’s inauguration.
Then, in March, WLFI held a $590 million token sale, with notable figures like Justin Sun participating. The project’s stablecoin, USD1, is fully backed and dollar-denominated, with a goal to compete with established stablecoins like USDT and USDC.
Looking at those previous acquisitions, along with the ETH and WBTC one from today, it seems that WLFI is on a continuous strategy plan to bolster its crypto holdings. It could also mean that these acquisitions are done to enhance liquidity for their DeFi platform and stablecoin operations.
Ethereum Gets Pectra Upgrade Boost, Bitcoin Rallies
The timing of Pectra coincides with ETH’s price spike, as the cryptocurrency rose by approximately 20% in the last 24 hours, currently priced at $2,359. This boost is largely attributed to the successful implementation of the Pectra upgrade, which introduced 11 Ethereum Improvement Proposals aimed at bettering transaction speed, cost efficiency, and staking capabilities.
This Pectra upgrade has led to Ethereum’s largest single-day gain in four years, with its market capitalization now nearing $300 billion.
Also, Bitcoin experienced a notable rally, surpassing the $100,000 mark for the first time since February 2025, with its current price sitting at $103,694. There are several factors that contributed to the bullish momentum, and the announcement of a trade deal between the US and the UK is likely one of them.
Furthermore, spot Bitcoin ETFs have seen record inflows, exceeding $40 billion, which indicates a strong institutional interest.
In any case, it will be interesting to see if Pectra acquires any other cryptocurrencies in the future, as many of them are experiencing price spikes at the moment.
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- National Banks and Federal Savings Associations Are Permitted to Provide Custody and Trading Services for Digital Assets
- May 10, 2025 at 03:45 pm
- The Office of the Comptroller of the Currency (OCC) has released guidance stating that national banks and federal savings associations are permitted to provide custody
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- Crypto Whales Have Started Accumulating NEET, PIN, and CHILLGUY Tokens Ahead of the Upcoming FOMC Decision
- May 10, 2025 at 03:35 pm
- Crypto whales have started accumulating NEET, PIN, and CHILLGUY tokens ahead of the upcoming FOMC decision, signaling increased interest in certain meme and DePIN tokens.
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