World Liberty Financial, the Trump family’s decentralized finance (DeFi) platform, has made another purchase of $10 million worth of Ether (ETH), according to data from Arkham Intelligence. The purchase brings World Liberty Financial’s holdings to 66,239 ETH, valued at $225 million at this time of writing.
World Liberty Financial’s latest $10M ETH purchase. Source: Arkham
The purchase on Jan. 31 comes on the heels of another $10-million ETH buy that occurred on Jan. 28. The DeFi platform has been on a crypto buying spree, purchasing millions of dollars worth of ETH, Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK) and Aave (AAVE). The purchases are generally made through CoW Protocol, a global digital currency exchange.
World Liberty Financial, introduced in mid-September 2024, has strong ties to the Trump family.
US President Donald Trump is listed as “Chief Crypto Advocate,” while his sons Eric Trump and Donald Trump Jr. have the titles of “Web3 Ambassador.” The co-founders of the platform are developers Chase Herro and Zachary Folkman, who previously worked on the DeFi project Dough Finance.
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The platform received some criticism this week after it snatched up around $2 million worth of Movement (MOVE) tokens right before it was revealed that Elon Musk’s Department of Government Efficiency reportedly had been in contact with Movement Labs, the creators of MOVE.
As Cointelegraph has covered, President Trump continues to expand his crypto footprint. The most recent move came on Jan. 29 when Trump Media and Technology, the parent company of Truth Social, announced that it was expanding into financial services, including cryptocurrency.
In the past, Trump launched non-fungible token collections and his own memecoin, with the latter quickly becoming a top token by market capitalization and minting new crypto millionaires. That memecoin now has utility: Holders can use it to purchase a variety of Trump merchandise, including sneakers, watches and fragrances.
World Liberty Financial’s ETH buys could come at an opportune time, as historically, the second-largest cryptocurrency by market capitalization has had strong February and March performances during bull markets. However, ETH has struggled this January even as the cryptocurrency market has largely surged.
Despite the platform’s continued buying of ETH, much of the Ethereum community is largely embroiled in a debate over the Ethereum Foundation’s leadership. For ETH to break the $3,500 resistance level, Cointelegraph believes there would need to be more clarity about the upcoming Pectra upgrade and the success of spot ETH exchange-traded funds, which have not seen $150 million or higher inflows since Jan. 16.
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