World Liberty Financial (WLFI), President-elect Donald Trump’s cryptocurrency initiative, has been making headlines, purchasing nearly $45 million in tokens.
Launched in September, WLFI brands itself as a decentralized finance (DeFi) platform for crypto trading. A company tied to the Trump family is set to receive 75% of the platform’s net revenue.
Since November 30, it has acquired $10 million of Coinbase Wrapped BTC (cbBTC) and $30 million worth of Ethereum
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On December 15, WLFI spent $500,000 on Ethena (ENA) and $250,000 on Ondo (ONDO), bringing the total for December to $44.75 million.
These purchases have been accompanied by smaller investments in other tokens, including $2 million each in Chainlink
Despite this ambitious buying strategy, the project seems to be struggling to gain traction. Less than 25% of its $300 million WLFI token offering has been sold, reducing the target to $30 million.
Nicolai Søndergaard, a research analyst from Nansen, reportedly stated the purchases might be an effort to build trust or shine a spotlight on these tokens.
According to Søndergaard, boosting the visibility of these assets could improve the project's performance, as their success might be tied to the platform’s reputation.
On November 26, Justin Sun, the founder of Tron, invested $30 million in World Liberty Financial. How did Sun's investment help WLFI? Read the full story.
