Donald Trump’s crypto project, World Liberty Financial, went on a massive crypto buying spree in December. It is now close to spending a total of $45 million after buying $250,000 worth of Ondo (ONDO). The project’s portfolio includes cryptocurrencies such as AAVE coin, cbBTC, ENA. Here are the details
Trump project, AAVE coin and ONDO among others
Since November 30, a World Liberty wallet has purchased $30 million worth of Ether and $10 million worth of Coinbase Wrapped BTC (cbBTC), according to a December 16 post by blockchain monitoring account Lookonchain and data from Arkham Intelligence. Lookonchain said World Liberty last bought $250,000 worth of Ondo on December 15 at around 2:00 p.m. PT, about a day after buying $500,000 worth of Ethena (ENA). It had previously bought $2 million each from Chainlink and Aave, bringing its total token purchases this month to $44.75 million.
The project, introduced in September, bills itself as a decentralized finance (DeFi) platform for crypto trading and lists President-elect Trump as its “chief crypto advocate” and his sons Donald Jr, Eric and Barron as “ambassadors.” A family-owned company is entitled to 75 percent of net revenues. Nicolai Søndergaard, research analyst at Nansen, recently told Bloomberg about World Liberty’s token purchases:
The purchases could be a way to gain additional confidence or a way to strengthen the project by shining a light on these assets, because if these assets succeed, the project will succeed
What’s the latest on the WLFI token?
The project has struggled to meet the sales target for its eponymous World Liberty Financial (WLFI) token. So far, it has sold less than a quarter of the $300 million worth of WLFI it put up for sale. However, last month’s $30 million purchase by Tron blockchain founder Justin Sun was critical. He thus received a boost by becoming the project’s largest investor and later being added as an advisor. Sun and Tron were accused of selling unregistered securities by the Securities and Exchange Commission, an agency Trump has vowed to overhaul to become more crypto-friendly.
Meanwhile, on December 13, AaveDAO, the autonomous collective behind the DeFi protocol Aave, accepted World Liberty’s proposal to allow it to deploy an instance of Aave, its own version of the protocol. World Liberty proposed to allow the borrowing and issuance of Ether, Wrapped Bitcoin (WBTC) and the stablecoin’s USD Coin, USDC and Tether. It will also give AaveDAO 20 percent of the fees generated and 7 percent of WLFI’s $21 million worth of supply at a price of 1.5 cents.
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