World Liberty Financial, a decentralized finance (DeFi) platform linked to the Trump family, has acquired an additional $10 million in Ether (ETH). This latest investment, as reported by Arkham Intelligence, increases the company’s ETH holdings to 66,239 coins, estimated to be worth $225 million at the time of writing.
The purchase, made on January 31, follows a similar investment of $10 million in ETH on January 28. World Liberty Financial has been aggressively investing in cryptocurrencies, including Ether, Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK), and Aave (AAVE). Most of these transactions are facilitated through CoW Protocol, an international digital currency exchange.
Launched in the middle of September 2024, World Liberty Financial has significant connections to the Trump family. Former US President Donald Trump holds the title of “Chief Crypto Advocate”, while his sons Eric Trump and Donald Trump Jr. are designated as “Web3 Ambassadors”. The platform was co-founded by developers Chase Herro and Zachary Folkman, both of whom previously worked on the DeFi project Dough Finance.
The platform faced some backlash recently when it acquired approximately $2 million worth of Movement (MOVE) tokens just prior to the disclosure that Elon Musk’s Department of Government Efficiency had been communicating with Movement Labs, the creators of MOVE.
As Cointelegraph has reported, President Trump continues to increase his involvement in the cryptocurrency sector. The latest development occurred on January 29, when Trump Media and Technology, the parent company of Truth Social, revealed its plans to venture into financial services, including cryptocurrency.
Previously, Trump had launched non-fungible token collections and his own memecoin. The latter quickly rose to prominence, resulting in the creation of several new crypto millionaires. The memecoin now has practical use as it can be used to buy various Trump merchandise, including sneakers, watches, and fragrances.
World Liberty Financial’s recent ETH purchases may prove timely, as Ethereum has historically performed well in February and March during bull markets. However, despite the broad surge in the cryptocurrency market, ETH has struggled this January.
While World Liberty Financial continues to invest in ETH, the Ethereum community is currently engaged in a debate over the leadership of the Ethereum Foundation. To surpass the $3,500 resistance level, much more clarity is required about the upcoming Pectra upgrade and the performance of spot ETH exchange-traded funds, which have not witnessed inflows of $150 million or higher since January 16.
