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Cryptocurrency News Articles
President Trump's DeFi Project Buys 50k ETH for ~$160M in Three Days
Jan 21, 2025 at 08:03 am
This brings us to the crux of the matter. Over the past three days, Trump's World Liberty Financial purchased around 50,000 Ether coins for ~$160 million.
United States President Donald Trump is now part of the crypto generation, thanks to his involvement in World Liberty Financial, a Decentralized Finance (DeFi) platform that aims to bring crypto-financial services to the masses.
Recently, World Liberty Financial made headlines by purchasing a large amount of Bitcoin and Ethereum, as well as launching the $TRUMP and $MELANIA meme coins.
Now, according to a recent tweet by ChainLinkGod, Trump's entity has formally begun staking some of its Ethereum holdings.
This coincides with Trump's inauguration as President of the United States, making him the first U.S. president to be directly involved in cryptocurrency.
For those unfamiliar, World Liberty Financial is a DeFi platform that enables users to borrow against their crypto holdings or earn interest by lending through various supported DeFi protocols, including AAVE and LINK.
The company describes its relationship with Trump as follows:
DT Marks DEFI LLC, an entity affiliated with Donald J. Trump and certain of his family members, owns approximately 60% of the outstanding equity interests in WLF Holdco LLC, which holds the only membership interest in World Liberty Financial, Inc.
$WLFI is World Liberty Financial's governance token, and is inherently non-transferable, rendering its free trade quite difficult. Trump and his family members receive approximately 75% of the fees generated from the sale of $WLFI tokens.
Over the past three days, Trump's World Liberty Financial purchased around 50,000 Ether coins for ~$160 million, and the DeFi platform also recently bought Bitcoin worth $4.69 million.
Additionally, World Liberty Financial is reportedly also considering the acquisition of TRON's TRX tokens for its treasury.
Trump's involvement in crypto has sparked varied reactions among the community. Some are excited by the prospect of a U.S. president promoting crypto adoption, while others are concerned about the potential conflicts of interest.
However, love it or hate it, Trump's crypto presidency is now an undeniable reality.
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