Trump Family-Backed WLFI Doubles Down on Altcoin Accumulation Despite Market Downturn

WLFI, the Trump family-backed decentralized finance (DeFi) project, is pressing ahead with its aggressive altcoin accumulation despite a brutal market downturn

The Trump family-backed decentralized finance (DeFi) project, WLFI, is continuing its massive altcoin accumulation despite a brutal market downturn that has left it nursing losses in the triple digits of millions.

After raising $550 million by selling 24.93 billion WLFI tokens, the project is using a substantial portion of the proceeds to build its “Macro Strategy” crypto reserve. Its latest purchase: $3 million worth of Mantle Network (MNT) tokens.

According to on-chain data, WLFI acquired 3.54 million MNT on March 24 at an average price of about $0.84.

The investment adds to its expanding list of holdings, which now includes Ethereum (ETH), Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK), Aave (AAVE), Ethena (ENA), BlueMove (MOVE), Ondo (ONDO), Sei (SEI), Avalanche (AVAX), and now Mantle (MNT).

However, the project’s portfolio has taken a significant hit with these acquisitions. Having spent roughly $340 million on crypto investments, WLFI's losses have ballooned to about $109 million with the market's persistent downturn.

As Donald Trump returned to the White House on Jan. 20, the crypto market has been unfolding in a way that few anticipated. With Trump known for his pro-crypto stance, many expected Bitcoin (BTC) to rally.

But as the market faces an eighth month of bearish pressure, Bitcoin and most major altcoins have instead plunged more than 30% since his inauguration.

Analysts largely attribute this decline to macroeconomic factors influenced by Trump's policies—ranging from tariffs and trade tensions to regulatory uncertainty surrounding AI and digital assets.

Despite the prolonged downturn, WLFI has refused to slow its buying spree. This comes as institutional players like Strategy have scaled back their Bitcoin purchases.

Eric Trump has also repeatedly urged his followers to “buy the dip” on social media—only for prices to sink even lower.

The market slump has also divided analysts, with some warning of further declines while others predict an imminent rebound.

CryptoQuant's CEO recently asserted that the bull market is effectively over based on on-chain data.

Conversely, Arthur Hayes, who correctly called Bitcoin's decline from its $100,000 peak, believes BTC has already bottomed out and could rebound at any moment.

With key inflation data set for release later this week and historical crypto market cycles suggesting a potential recovery, all eyes are on whether Bitcoin can stage a comeback—or if WLFI's bet on altcoins will deepen its losses.