Crypto wallets associated with the Trump family-supported World Liberty Financial project made significant purchases of major tokens, causing a surge in prices early Thursday. World Liberty Financial is a platform that enables users to borrow and lend cryptocurrencies, create liquidity pools, and transact with stablecoins, with its governance token being WLFI.
The project, with President-elect Donald Trump as the “chief crypto advocate,” and his sons Eric and Donald Trump Jr. as “web3 ambassadors,” along with Barron Trump as the “DeFi visionary,” purchased millions of dollars worth of tokens. This included $10 million in ether (ETH), and $1 million each in aave (AAVE) and Chainlink’s LINK tokens. Following these purchases, ETH prices saw a 7% surge, while AAVE and LINK prices increased by 30%.
Over the past 12 days, the wallet has also spent $30 million to acquire 8,105 ETH at an average price of $3,700. Speculation from well-known crypto trader @TheFlowHorse suggests that these purchases may be part of larger plans set to unfold in the coming months.
World Liberty Financial utilizes data provider Chainlink’s services for better integration with the broader crypto ecosystem. Chainlink plays a crucial role in providing pricing data and cross-chain interoperability infrastructure for the platform.
Recently, the platform’s DAO proposed the deployment of a World Liberty Financial Aave v3 instance. This instance, managed through external risk managers and built on the existing Aave v3 infrastructure, aims to attract new users to the platform and share revenues with liquidity providers. The proposal has already met quorum ahead of its deadline on Dec. 13.
The strategic token purchases and ongoing developments within World Liberty Financial indicate a growing presence in the crypto space, with the Trump family’s involvement adding a unique dynamic to the project.