Donald Trump linked World Liberty Financial purchases $12 million Ethereum, Chainlink, and Aave

WLFI's asset choices fuel speculation of alignment with pro-crypto agenda under Trump's incoming administration.

Dec. 12, 2024 at 11:26 am UTC

2 min read

Updated: Dec. 12, 2024 at 11:26 am UTC

World Liberty Financial Initiative (WLFI), a DeFi project backed by US President-elect Donald Trump, has made headlines with a recent $12 million crypto acquisition.

On Dec. 12, blockchain analytics firm Lookonchain revealed that WLFI acquired 2,631 ETH for $10 million at $3,801 per token. Additionally, it bought 41,335 LINK and 3,357 AAVE, investing $1 million in each.

According to Arkham Intelligence data, these purchases have boosted the project’s crypto holdings to a value exceeding $74.7 million. WLFI now holds approximately 14,576 ETH (worth over $57 million), 102.9 cbBTC (valued at $10.3 million), and other assets like USDC alongside its newly acquired LINK and 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. It also reportedly plans to introduce a proprietary stablecoin and tools for accessing third-party DeFi applications.

Market implications

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 pseudonymous crypto trader, Flow Horse, suggested that WLFI may have strategically invested in tokens expected to thrive under favorable US regulations.

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. Over the past year, the President-elect strongly advocated for the industry during his campaign and has made a series of pro-crypto appointments, including that of David Sachs as the White House Crypto Czar.

Observers said these efforts demonstrate a commitment to delivering on his regulatory clarity and industry support promises.

Mentioned in this article

Posted In: Aave, Chainlink, Ethereum, US, DeFi, Featured, Tokens

Author

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Editor

Liam 'Akiba' Wright

Editor-in-Chief at CryptoSlate

Also known as "Akiba," Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the potential to make widespread positive change.

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