World Liberty Monetary (WLFI), the decentralized finance platform linked to Donald Trump and his household, bought thousands and thousands of {dollars} of cryptocurrencies in a shopping for frenzy on Monday hours earlier than Trump’s inauguration ceremony.
The protocol’s pockets handle purchased over $23.5 million of wrapped bitcoin (BTC), $29 million of Ethereum’s ETH, $4.4 million of AAVE and $4.5 million of Tron’s TRX, blockchain knowledge by Arkham Intelligence exhibits. The handle additionally bought $4.5 million of Ethena and $5.5 million of Chainlink’s LINK in over a dozen transactions by decentralized change CoW.
The transactions occurred as gross sales of the protocol’s governance token WLFI picked up over the previous few days after a lackluster launch final October. Over 21.7 billion of tokens ($1.08 billion) have been bought as of Monday morning, over 85% of the full 25 billion provide.
World Liberty Monetary is spearheaded by Zachary Folkman and Chase Herro, who labored beforehand on DeFi platform Dough Finance, which noticed $2 million of crypto property drained by a July exploit. Members of the Trump household, together with Donald Trump, publicly championed the venture on social media, with the previous president being titled as “Chief Crypto Advocate.” for the platform. Two of his sons, Eric Trump and Donald Trump Jr., are concerned as “Web3 Ambassadors,” whereas his different son Barron Trump is listed as “DeFi Visionary.”
