President-elect Donald Trump is once again in the headlines after his new crypto venture, World Liberty, spent $12 million buying Ethereum, Link, and Aave. The wallet spent the majority of the funds buying Ethereum, and the rest were distributed to Chainlink and Aave purchases.
Onchain data shows that a multi-sig wallet belonging to Trump’s new crypto venture, World Liberty, is buying Ethereum, Chainlink, and AAVE. Trump developed the venture to offer different financial services to crypto-savvy investors. The venture has spent $12 million in less than 24 hours on the three digital currencies.
Trump’s World Liberty Financial buys $12 million worth of digital assets
Trump's World Liberty(@worldlibertyfi) is buying $ETH, $LINK and $AAVE!
In the past 9 hours, the World Liberty Multisig wallet spent 10M $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8.https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ
— Lookonchain (@lookonchain) December 12, 2024
According to data from EtherScan flagged by Lookonchain, World Liberty’s multi-sig wallet spent 10 million USDC to purchase ETH 2,631 at an average price of $3,801. The venture also bought 41,335 LINK at an average price of $24.2 for 1 million USDC. The wallet also spent another 1 million USDC to purchase 3,357 AAVE at $297.8 per token.
The president-elect announced the family crypto venture in mid-September through a livestream on an X space. The World Liberty Financial venture will offer lending and borrowing services as well as investment opportunities to crypto investors. Trump’s three sons, Eric Trump, Donald Trump Jr., and Barron Trump, are all on the founding team alongside real estate executive Steve Witkoff and his two sons.
The firm has already begun receiving investments from enterprising individuals. Justin Sun, a notable crypto figure and Chinese entrepreneur, invested $30 million into the firm. The investment tipped the venture over the threshold, allowing Trump and his family to begin seeing proceeds from the firm.
At its core, World Liberty Financial has its token, WLFI. The token sale launched on October 15th and was open to anyone who qualified for the whitelist that began in September. The venture token sale was only available to U.S. accredited investors with a net worth of at least $1 million, excluding residence. The whitelist had over 100,000 investors before the token sale.
World Liberty Financial’s token sale sells 4.43 billion tokens
According to the venture’s official website, the firm has sold 4.43 billion tokens worth $66.2 million, with 15.592 billion tokens remaining. The project has allocated 20% of the token supply to the founding team, including Donald Trump and his sons. 17% has been set aside for user rewards, and the remaining 63% is publicly sold to investors.
After the president-elect announced the venture, the news sparked a wave of controversies and concerns. Government ethics experts accuse the president-elect of expanding his business venture by receiving money from those hoping to influence U.S. policy changes.
Trump’s team told the BBC that he distanced himself from his multi-billion-dollar real estate empire when he was elected and waived his salary. Trump spokeswoman Karoline Leavitt said that Trump got into politics because he loves Americans and wants to make America great again, unlike most political figures who are in it for turning a profit. Trump has appointed pro-crypto candidates to form part of his incoming administration, including Paul Atkins, who is set to become the next U.S. SEC chair.
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