World Liberty Financial, the decentralized finance (DeFi) platform backed by President-elect Donald Trump, has started securing Ethereum Name Service (ENS) domain names related to Trump’s family members, fuelling speculation that more Trump family memecoin launches are imminent.
On Jan. 19, Etherscan data revealed that the Trump family’s DeFi platform bought the ENS domain names barrontrump.eth, erictrump.eth, trumpcoin.eth and worldliberty.eth. The purchases were followed by more ENS domain acquisitions for 9290.eth, yatogame.eth and daolationship.eth.
World Liberty Financial’s ENS domain name purchases. Source: Etherscan
Community members flagged the DeFi platform’s ENS purchases, speculating about their significance. Social media account Aixbt told its 400,000 followers that someone is “planning ahead,” while another community member suggested that this solves the “Trump family memecoin puzzle.”
Trump family launches official memecoins
Just days before his inauguration on Jan. 20, Trump announced the launch of his Official Trump (TRUMP) memecoin on X and Truth Social. In just a few hours, the token reached a market capitalization of over $9 billion, surpassing memecoins like Pepe (PEPE) and Bonk (BONK).
At the time of writing, TRUMP traded at $57.30, about 21% down from its all-time high of $73. The token peaked at a market capitalization of $15 billion before falling to $12 billion, which is still nearly double Trump’s estimated net worth of $7 billion.
Seven-day price chart for Donald Trump’s memecoin token. Source: CoinGecko
Following Trump’s memecoin launch, incoming First Lady Melania Trump also released her self-titled crypto token, MELANIA. On Jan. 19, Melania announced the token, and her husband shared the news on his official social media platforms.
Just two hours after its launch, Dexscreener data showed the memecoin hit a $6 billion market capitalization.
While many traders embraced the memecoin tokens launched by the Trump family, others criticized the move. Phinance Technologies founder Edward Dowd described the token as the “largest unforced error” made before a presidential inauguration, while financial analyst Michael Gayed said that Trump’s credibility was destroyed, calling the TRUMP token a “pump and dump.”
Related: Bitcoin hits new all-time high above $109K ahead of Trump’s inauguration
World Liberty Financial acquires Ether
In addition to registering ENS domain names and launching memecoins, the Trump family also invested in Ether (ETH). On Jan. 19, World Liberty Financial bought $48 million in ETH. This brings the project’s total ETH holdings to 33,639 ETH, worth over $107 million.
Source: Eric Trump
As the Trump family continues to make waves in the crypto world, Eric Trump hinted at additional moves planned for the DeFi platform on Jan. 20.
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