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On Monday, when Donald Trump was sworn in as the 47th president of the United States, World Liberty Financial, the cryptocurrency project he backs, announced that it would invest in Ethereum (CRYPTO:ETH) and Wrapped Bitcoin (CRYPTO:WBTC). ) announced a series of strategic purchases.
What Happened: In the post of revealed that he had purchased.
With the latest acquisition, World Liberty Financial’s total ETH holdings jump to 57,115, worth more than $185 million at current market prices, according to on-chain analytics firm Arcam. WBTC was the second largest holding.
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Other important buys include Tron (CRYPTO: TRX), Aave (CRYPTO: AAVE), Chainlink (CRYPTO: LINK), and Ethena (CRYPTO: ENA) worth $4.7 million.
World Liberty Financial said the purchase was in commemoration of President Trump’s inauguration.
Trending: If there was a new fund backed by Jeff Bezos that offered monthly dividends with a target yield of 7-9%, would you invest in it?
Why it matters: World Liberty Financial has been steadily accumulating DeFi-linked cryptocurrencies such as ETH, AAVE, and LINK to build its platform.
Launched last year as a decentralized finance marketplace, the protocol allows users to borrow, lend, and earn interest on cryptocurrencies. The WLFI token will serve as the platform’s governance token, allowing users to participate in DeFi-related activities.
The project is being actively promoted by Mr. Trump and his family, and DT Marks DEFI, LLC, a company associated with the president-elect, will receive 75% of the protocol proceeds.
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