Donald Trump’s DeFi protocol purchased ETH, LINK, and AAVE for $12 million

What’s new? Wallets affiliated with Donald Trump’s DeFi platform World Liberty Financial spent 12 million USDC stablecoins on December 12 to buy several cryptocurrencies. ETH worth $10 million was bought, as well as tokens of the Chainlink (LINK) decentralized oracle network and the Aave (AAVE) protocol, $1 million each.

Source: X.com

What else is known? ETH has since added 6,7% and climbed above $3940, LINK rose 28,5% to hit its highest level since January 2022 at $29,18, and AAVE is up 30,6% to $358,33, its highest level since September 2021.

World Liberty Financial, a project led by Trump’s sons Eric and Donald Jr. and investors Steve and Zach Witkoff, Zachary Folkman and Chase Herro, was unveiled in August 2024 as an alternative to traditional banks.

The platform, built on the Ethereum blockchain and the Aave lending DeFi protocol and utilizing the Chainlink standard for interconnectivity, offers a wide range of services including lending and borrowing cryptocurrencies, creating liquidity pools, and making transactions using stablecoins. WLFI tokens serve as a project management tool.

Since the launch of the WLFI token sale on October 15, the project has raised $55,7 million, which is significantly lower than the initial target of $300 million. A total of 62,66% of the asset offering has been allocated to the token sale, with another 17,33% earmarked for participant rewards and 20% reserved for the team.

In late November, World Liberty Financial raised $30 million from Justin Sun, the founder of the TRON blockchain and head of the HTX and Poloniex exchanges, making the entrepreneur the largest investor in the project.

In addition, decentralized autonomous organization (DAO) World Liberty Financial will complete a vote on December 13 to deploy the project based on the Aave protocol version three in the Ethereum mainnet. At the time of writing, 100% of votes have been cast in favor of the initiative.

Thus, large purchases of ETH, LINK, and AAVE may indicate the confidence of the project management in the growth of the rates of these assets. Earlier, Trump’s victory in the US presidential election caused a rally of the crypto market, as a result of which bitcoin updated the record above $104 000.

In addition, Trump is forming a cryptocurrency-friendly administration that will start work after his inauguration on January 20. As such, traders and entrepreneurs are expecting a clear regulatory framework for the industry that will encourage an influx of investment in cryptocurrencies.