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Donald Trump’s crypto venture, World Liberty Financial, has brought its total crypto investments to nearly $45 million with a December buying spree.
In the latest purchase, made on 15 December 2024, the firm acquired $250,000 worth of Ondo (ONDO).
According to data from Arkham Intelligence and blockchain monitoring platform Lookonchain, World Liberty Financial’s wallet has acquired $30 million in Ether (ETH). It also has $10 million in Coinbase Wrapped Bitcoin (cbBTC), along with a series of smaller purchases, since 30 November 2024.
These include $2 million each in Chainlink (LINK) and Aave (AAVE), as well as $500,000 in Ethena (ENA) the day before the ONDO buy. The most recent transaction takes its total monthly crypto purchases to $44.75 million.
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World Liberty Struggles To Meet Funding Goals
World Liberty Financial, launched in September, promotes itself as a decentralized finance (DeFi) trading platform. Notably, President-elect Trump is listed as its “chief crypto advocate.” Meanwhile Trump’s sons Donald Jr, Eric, and Barron are identified as “ambassadors.”
A company linked to the Trump family is entitled to 75% of the project’s net revenues.
Nicolai Søndergaard, a research analyst at Nansen, told Bloomberg that these acquisitions could aim to “gain additional trust or boost the project” by spotlighting specific tokens. The strategy could attract investors and drive growth for World Liberty’s platform.
Trump’s World Liberty(@worldlibertyfi) spent 250K $USDC to buy 134,216 $ONDO 2 hours ago.
Since Nov 30, #WorldLiberty has spent:
30M $USDC to buy 8,105 $ETH at $3,701;
10M $USDC to buy 103 $cbBTC at $97,181;
2M $USDC to buy 78,387 $LINK at $25.5;
2M $USDC to buy 6,137 $AAVE at… pic.twitter.com/0EVPCgMdMW— Lookonchain (@lookonchain) December 16, 2024
Despite its aggressive buying spree, the project has struggled to meet its funding goals.
World Liberty Financial aimed to sell $300 million worth of its native token, World Liberty Financial (WLFI). But, so far it has sold less than 25% of that amount.
The project received a major lift last month when Tron blockchain founder Justin Sun purchased $30 million worth of WLFI tokens, becoming its largest investor. Sun was subsequently named an advisor to the project.
On 13 December 2024, World Liberty Financial’s influence expanded when AaveDAO, the decentralized governance body behind the DeFi protocol Aave. It approved the proposal to launch a custom instance of Aave’s protocol.
The initiative will allow users to borrow and lend assets such as Ether, Wrapped Bitcoin (WBTC), USD Coin (USDC), and Tether (USDT). The proposal also grants AaveDAO 20% of the fees generated on the platform, along with 7% of the total WLFI token supply, valued at $21 million.
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Trump Appoints Crypto-Friendly Individuals To Key Positions
Trump recently proposed actions such as firing SEC Chair Gary Gensler and freeing Silk Road founder Ross Ulbricht.
Additionally, Trump has appointed David Sachs, a podcaster, as the “Crypto Czar” in his cabinet. He also pledged to make America the “crypto capital of the world” through initiatives like World Liberty’s lending and borrowing platform.
Furthermore, he selected Paul Atkins, a crypto advocate and former SEC commissioner, as his choice to lead the SEC.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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