President-elect Donald Trump’s crypto project World Liberty Financial (WLFI) is loading up on decentralized finance (DeFi) altcoins, on-chain data shows.
Blockchain intelligence platform Arkham reports that WLFI’s treasury acquired $50 million worth of different DeFi coins in preparation for its launch.
“UPDATE: DONALD TRUMP’S WORLD LIBERTY FI ACQUIRED $50 MILLION OF DEFI COINS
The World Liberty Finance Treasury just acquired:
$35 million of ETH/WETH
$10 million of cbBTC
$1 million of LINK
$1 million of AAVE
Is Trump long DeFi?”
WLFI went live with its token sale in October.
The project originally said that 63% of all WLFI would be sold to the public, but according to its current whitepaper – or “goldpaper”– World Liberty Financial appears to have lowered that to 35%.
With World Liberty Financial yet to publicly launch, it’s still not 100% clear what services the platform will provide.
World Liberty Financial says it’s the “only DeFi platform inspired by Donald J. Trump” and aims to lead a “financial revolution by dismantling the stranglehold of traditional financial institutions and putting the power back where it belongs: in your hands.”
Data from Ethereum blockchain explorer Etherscan shows that the TRON DAO received 2 billion tokens from its investment in WLFI, making Tron (TRX) founder Justin Sun and the DAO the largest holders.
With the purchase, Sun also became an advisor to the project.
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