WLFI
Donald Trump backs World Liberty Financial and has actively promoted the project on social media. WLFI Website / Screenshot

KEY POINTS

  • WLFI also purchased $AAVE, $LINK, $TRX, and $ENA to commemorate the inauguration
  • Some crypto users have recommended specific digital currencies for the WLFI team to consider
  • WLFI has received mixed reactions from the crypto community since its launch last year

World Liberty Financial (WLFI), the decentralized finance (DeFi) project led by Donald Trump's family and backed by the new U.S. president himself, has splurged on over $100 million worth of cryptocurrency.

The development came as Trump took on the reins of the White House for the second time, amid hopes he will keep his promises to the crypto space.

WLFI Buys Crypto to Celebrate Trump 2.0

In a Monday post on X, WLFI said it purchased over a hundred million worth of crypto assets "to commemorate the inauguration of Donald J. Trump as the 47th President of the United States."

The purchases are as follows:

  • $47 million in Ethereum (ETH)
  • $47 million in Wrapped Bitcoin (wBTC)
  • $4.7 million in Aave (AAVE)
  • $4.7 million in Chainlink (LINK)
  • $4.7 million in TRON (TRX)
  • $4.7 million in Ethena (ENA

Crypto Users Urge WLFI to Buy Other Crypto

While the purchases may play well into the blockchains around the tokens WLFI purchased on Inauguration Day, some crypto users believe the project should also check other digital coins that could be worth their investments.

One user said he was curious why WLFI would "leave out one of the project[s] that is the number one American-made crypto," referring to XRP, the native crypto token of the XRP Ledger, a blockchain whose development is being supervised by U.S.-based Ripple.

One user asked why the Trump family-backed project didn't consider Cardano (ADA), which has consistently been a major altcoin over the years.

MrCrypto, a prominent figure in the crypto space, also made a recommendation: SUI, the native cryptocurrency of the Sui blockchain, a Layer 1 chain known for its high transaction speeds and fast smart contract deployment.

Another user questioned WLFI on why it didn't purchase any Solana (SOL), the blockchain where Trump launched his official token, TRUMP.

Concerns Over WLFI's Crypto Sales

About a week before the inauguration purchases, WLFI was forced to "explain" its actions following onchain revelations that the team had been selling some of its crypto holdings.

The crypto sales raised concerns about the project and its activities in recent weeks. "We're making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements," WLFI said.

It went on to note that it was not "selling" any of its native WLFI tokens, but is "simply reallocating assets for ordinary business purposes."

WLFI – A Trump Family Affair

World Liberty Financial was launched last year to a divided crypto community. Many were thrilled, but others were critical of the project's "gold paper," the team behind it, and its tokenomics.

Notably, the WLFI team has four Trump family members involved, including the President himself, whose position is Chief Crypto Advocate.

Eric Trump, Donald Trump Jr., and Barron Trump are all Web3 Ambassadors, while Chase Herro, Zak Folkman, and three Witkoffs are co-founders, including prominent real estate investor Steve Witkoff.

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