World Liberty Financial Initiative, a DeFi-backed project backed Donald Trump as the US president elect, made news with a $12 million cryptocurrency acquisition.
Lookonchain, a blockchain analytics company, revealed on Dec. 12 that WLFI purchased 2,631 ETH at $3.801 each for $10 Million. Additionally, the company invested $1,000,000 in both AAVE and 41,335 Link.
According to Arkham Intelligence data, these purchases have boosted the project’s crypto holdings to a value exceeding $74.7 million. WLFI holds nearly 14,576 ETH worth more than $57,000,000, 102.9 cbBTC valued at $10.3 million and other assets including USDC along with its newly acquired LINK & AAVE.
WLFI’s substantial crypto purchase appears to have influenced market conditions. According to CryptoSlate’s data, both LINK and AAVE recorded price increases exceeding 25% within 24 hours.
WLFI aims to position itself as a leading DeFi platform that offers lending, borrowing, and digital asset investment services. According to reports, it also intends to introduce its own stablecoin as well as tools that allow users access third-party DeFi application.
Market Consequences
The crypto community has been buzzing with speculation about WLFI’s recent moves. Some believe the asset choices align with a pro-crypto agenda anticipated under Trump’s administration.
A crypto-trader using a pseudonym, Flow Horse suggested that WLFI might have invested strategically in tokens anticipated to flourish under US regulatory favorable conditions.
Meanwhile, other industry analysts also point to WLFI’s focus on DeFi, viewing the LINK and AAVE purchases as a signal of confidence in decentralized financial technologies over speculative assets like memecoins.
Chainlink’s Community Liaison, Zach Rynes, highlighted that adopting Chainlink Price Feeds for WLFI’s Aave V3 integration could be a driving factor behind the acquisition. He also noted that the purchases might reflect confidence in a more supportive regulatory environment under Trump’s leadership.
Trump’s evolving stance on crypto further fuels this narrative. In the last year, President-elect Trump has been a strong advocate for crypto during his election campaign. He also made several appointments that were pro-crypto, such as David Sachs, who was appointed White House Crypto Czar.
These efforts, according to observers, show a willingness on the part of Mr. Trump to deliver his promises regarding regulatory clarity and support for industry.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
