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World Liberty Financial (WLFI), the cryptocurrency project associated with former U.S. President Donald Trump, has been aggressively <a href="https://intel.arkm.com/explorer/entity/worldlibertyfi" rel="noopener noreferrer nofollow">acquiring</a> crypto assets this December, nearing a total spend of $45 million.
<a href="https://x.com/lookonchain/status/1868460418114744779" rel="noopener noreferrer nofollow">According</a> to blockchain analytics platform Lookonchain, the project’s latest purchase included $250,000 worth of Ondo (ONDO) on Dec. 15, following a $500,000 buy of Ethena (ENA) just a day prior.
<h2 id="span-style-font-weight-400-world-liberty-on-a-spending-spree-span">World Liberty on a Spending Spree</h2>
Since November 30, the World Liberty wallet has amassed $30 million in Ether (ETH) and $10 million in Coinbase Wrapped Bitcoin (cbBTC), alongside $2 million each in Chainlink (LINK) and Aave (AAVE). These acquisitions align with WLFI’s efforts to establish itself as a major player in decentralized finance (DeFi), with Trump serving as the platform’s “chief crypto advocate” and his sons Donald Jr., Eric, and Barron listed as “ambassadors.”
Despite its high-profile endorsements, the project has struggled to achieve its $300 million <a href="https://thecoinrise.com/world-liberty-financial-secures-100k-signups-before-october-15-token-launch/" rel="noopener noreferrer nofollow">fundraising target through its WLFI token sale</a>, having sold less than 25% of the offering. However, WLFI received a significant boost last month when Justin Sun, the founder of the Tron blockchain, invested $30 million and joined the project as an advisor.
<h2 id="span-style-font-weight-400-ambitious-goals-amid-stiff-challenges-span">Ambitious Goals Amid Stiff Challenges</h2>
Notably, World Liberty’s recent token purchases have sparked speculation. Nicolai Søndergaard, a research analyst at Nansen, <a href="https://www.bloomberg.com/news/articles/2024-12-13/trump-s-world-liberty-is-buying-niche-tokens-worth-millions-of-dollars" rel="noopener noreferrer nofollow">suggests</a> the acquisitions may serve as a strategy to instill trust or highlight the value of specific assets linked to the project. The project is also expanding its DeFi footprint, as evidenced by the recent approval of its proposal by AaveDAO.
This move allows WLFI to launch its own version of the Aave protocol for borrowing and lending popular assets like Ether, Wrapped Bitcoin, USD Coin, and Tether.
<a href="https://thecoinrise.com/justin-sun-becomes-top-investor-in-donald-trumps-crypto-venture-with-30m-bet/" rel="noopener noreferrer nofollow">Justin Sun, WLFI’s largest investor</a>, has previously been accused by the U.S. Securities and Exchange Commission (SEC) of selling unregistered securities. This regulatory shadow looms over the initiative, despite Trump’s promises to overhaul the SEC to be more crypto-friendly.
As World Liberty Financial continues its ambitious journey in the volatile crypto space, the stakes are high. Its December spending spree and strategic partnerships underscore its commitment to carving out a significant role in DeFi, but challenges remain pivotal hurdles.
The post <a href="https://thecoinrise.com/trump-backed-world-liberty-financial-nears-45m-in-token-buys/" rel="noopener noreferrer nofollow">Trump-Backed World Liberty Financial Nears $45M in Token Buys</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Trump-Backed World Liberty Financial Nears $45M in Token Buys

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