World Liberty Financial Expands Crypto Investments to $45 Million
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World Liberty Financial invests nearly $45 million in crypto assets, including ONDO and ETH. Justin Sun’s $30 million investment boosts World Liberty Financial’s growth and advisory. The Trump family-backed project plans to use Aave’s protocols for decentralized lending. World Liberty Financial (WLF), a Trump-backed crypto project, significantly increased its investments in December, bringing its total to nearly $45 million. The fund acquired $250,000 USDC worth of Ondo (ONDO) tokens, aiming to strengthen its position in decentralized finance (DeFi). On December 16, WLF purchased 134,216 ONDO tokens via Cow Protocol at a price of $250,000 USDC. Since November, the fund has allocated $44.75 million across six different assets as part of its aggressive investment strategy. Read also: World Liberty Financial Bets $12M on Crypto with ETH, LINK, AAVE Buys Key Acquisitions and Partnerships Among its acquisitions, WLF bought 8,105 ETH at an average price of $3,701 per token, yielding a $2.12 million profit. Additionally, Justin Sun, founder of the Tron blockchain, invested $30 million in WLF, becoming its largest backer. Sun’s involvement includes an advisory role, which could signal a strategic pivot for the project. It is to be noted that according to an earlier Bloomberg report, World Liberty Financial had faced challenges meeting its fundraising goals despite these investments. The project’s token sale, aimed at raising $300 million for the World Liberty Financial (WLFI) token, had sold less than a quarter of its available supply, until Justin Sun stepped in with his $30 million investment. WLF also secured support from Polychain Capital, a major venture firm. The project plans to launch a lending and borrowing platform using Aave protocols to enable Ether, wrapped Bitcoin, and stablecoin trading. Trump’s Role and Vision for Crypto Donald Trump, who previously doubted Bitcoin, has embraced crypto as part of America’s economic future. He recently…
Filed under: News - @ December 16, 2024 9:18 am