Trump’s DeFi Platform Stocks Up on Crypto Assets

On January 21, Donald Trump Jr. announced the purchases to “commemorate the inauguration of Donald J. Trump as the 47th President of the United States.”

Family-owned World Liberty Finance DeFi platform has made several “strategic purchases,” including $47 million worth of wrapped Bitcoin (wBTC) and $47 million worth of Ethereum.

There were also $4.7 million prizes from Aave (AAVE), Chainlink (LINK), Tron (TRX), and Ethena (ENA) to mark the milestone.

To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce today the following strategic purchases:

$47,000,000ETH
$47,000,000 worth of BTC
$4,700,000 on average
$4,700,000 LINK
$4,700,000 TRX
$4,700,000 ENA

Happy for the…

– Donald Trump Jr. (@DonaldJTrumpJr) January 21, 2025

Waiting for strategic reserve

However, it’s “not quite the strategic reserve that everyone is looking for,” commented Bloomberg ETF analyst James Seyffart, while investor Zack Voell called it “Bitcoin’s wrapped strategic reserve.” .

Bitcoin Magazine CEO David Bailey commented: “Trump’s crypto team has started turning his Bitcoin treasury into multiple $4.7 million tranches!

Meanwhile, Tether strategy advisor Gabor Gurbacs commented on the lack of recognition of crypto in Trump’s speech:

“Donald Senior could have mentioned Bitcoin just once in his speech. Bitcoiners did a lot to get him elected and make all of this possible.

President Trump has already started signing executive orders after taking office on Monday. However, he has yet to sign the one the entire crypto industry has been waiting for: his Bitcoin strategic reserve proposal.

World Liberty Finance has been stocking up on Ethereum lately, and its portfolio relies heavily on the asset, with nearly 57,000 ETH worth around $184 million making up more than half of its holdings, according to Arkham.

The platform sold out of its WLFI tokens this week, but resumed the sale with an additional 5% of the supply, or 5 billion tokens, priced at $0.05, up from the initial presale price of $0.015 token for the first 20 billion.

The platform had sold 22 billion of the 25 billion illiquid tokens on offer, according to the official website at the time of writing this article.

Crypto markets take a breather

Total market capitalization declined in recent hours to $3.64 trillion as markets cooled following hype around the inauguration.

Bitcoin hit a new all-time high of $109,400 on Monday before retreating to $102,000 during the Asian trading session on Tuesday morning.

Ethereum was only able to manage to reach $3,430 before falling again, as it has been doing for months. ETH was trading at around $3,250 at the time of writing.

Altcoins were mixed, and Trump’s recently launched namesake coin, TRUMP, was down sharply with a 30% loss that day, falling to $32 following a wave of criticism from altcoins. crypto industry experts and observers.