World Liberty Financial (WLFI), the decentralized financial platform linked to Donald Trump and his family, bought millions of dollars of cryptocurrencies in a buying frenzy on Monday hours before Trump’s inauguration ceremony.
The protocol’s wallet address bought 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 data by Arkham Intelligence shows. The address also bought $4.5 million of Athena and $5.5 million of Chainlink’s LINK in over a dozen transactions through decentralized exchange CoW.
The transactions came as sales of the protocol’s governance token WLFI surged over the past few days following a weak launch last October. More than 21.7 billion tokens ($1.08 billion) have been sold as of Monday morning, over 85% of the total supply of 25 billion.
World Liberty Financial is led by Zachary Folkman and Chase Herro, who previously worked at DeFi platform Dough Finance, where $2 million in crypto assets were drained through an exploit in July. Members of the Trump family, including Donald Trump, publicly championed the project on social media, with the former president being titled “Chief Crypto Advocate.” to 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”.
