30s Summary
World Liberty Financial, Donald Trump’s crypto company, spent about $45 million on various cryptocurrencies in December, including $30 million on Ether and $10 million on Coinbase Wrapped BTC. The company’s recent purchase involved spending $250,000 on Ondo. Despite such investments, World Liberty Financial has struggled to meet its sales target for its own token, only managing to sell a quarter of its intended $300 million. However, the project received a significant boost when Justin Sun, the founder of Tron blockchain, bought $30 million worth of the project’s tokens.
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So, Donald Trump’s crypto company, World Liberty Financial, is on a crypto shopping spree. In December, they’ve spent around $45 million buying up a bunch of different crypto, including $250,000 on Ondo (ONDO). Since November 30 alone, they’ve invested $30 million in Ether (ETH) and $10 million in Coinbase Wrapped BTC (cbBTC), among other things. And according to a post from crypto tracking company Lookonchain and info from Arkham Intelligence, their most recent buy happened at around 11 pm UTC on December 15, dropping $250,000 on Ondo (ONDO), roughly a day after they bought $500,000 worth of Ethena (ENA). Earlier, they also picked up $2 million of Chainlink (LINK) and Aave (AAVE), bringing their total buys for the month to $44.75 million.
World Liberty Financial was unveiled back in September, and it’s a platform for trading crypto where Donny Trump serves as the “chief crypto advocate” and his sons are “ambassadors.” A company linked to the family gets 75% of net revenues.
Some folks think that World Liberty’s token buying could be a way to build trust or boost the project by drawing attention to these assets. But the project has struggled to meet its sales goal for its own token, World Liberty Financial (WLFI), selling only a quarter of the $300 million it wanted to sell.
But it got a lift last month when Tron blockchain founder Justin Sun dug into his pockets and bought $30 million worth, making him the project’s biggest investor. Sun and Tron have been accused of selling unregistered securities by the Securities and Exchange Commission, something that Trump has promised to change to make it friendlier to crypto.
On another note, on December 13, AaveDAO, the independent collective behind the DeFi protocol Aave, allowed World Liberty to deploy their own version of the protocol. World Liberty proposed that this would allow for the borrowing and lending of Ether, Wrapped Bitcoin (WBTC), and some stablecoins. They also plan to give 20% of the fees they make to AaveDAO and 7% of WLFI’s supply, worth $21 million, with its price at 1.5 cents.