World Liberty Financial (WLFI), the decentralized financial platform linked to Donald Trump and his family, bought millions of dollars in cryptocurrency in a buying frenzy on Monday hours before Trump’s inauguration ceremony.
The protocol’s wallet address purchased over $23.5 million worth of wrapped bitcoins (BTC), $29 million worth of ETH from Ethereum, $4.4 million worth of AAVE, and $4.5 million worth of TRX from Tron , Arkham Intelligence blockchain data shows. The address also purchased $4.5 million of Ethena and $5.5 million of LINK from Chainlink in more than a dozen transactions through the CoW decentralized exchange.
The transactions came as sales of the WLFI protocol’s governance token surged in recent days after a lackluster launch last October. As of Monday morning, more than 21.7 billion tokens ($1.08 billion) have been sold, more than 85% of the total supply of 25 billion.
World Liberty Financial is headed by Zachary Folkman and Chase Herro, who previously worked at DeFi platform Dough Finance, which saw $2 million in crypto assets drained via an exploit in July. Members of the Trump family, including Donald Trump, publicly defended the project on social media, with the former president receiving the title of “Top Cryptocurrency Advocate.” for the platform. Two of his sons, Eric Trump and Donald Trump Jr., are involved as “Web3 Ambassadors,” while his other son, Barron Trump, is listed as a “DeFi Visionary.”
