World Liberty Financial (WLFI), the known DeFi project backed by President Donald Trump and his sons, acquired $21,5 million in cryptocurrencies ahead of the White House crypto summit scheduled for March 7. Is any of this legal…maybe.
According to data from Arkham Intelligence, WLFI’s wallet sent $25 million in USDC to a new multi-sig wallet on Wednesday and used the fund to acquire 4,468 Ether at $2,238, 110.6 Wrapped Bitcoin (WBTC) at $90,420, and 3.42 million Movement (MOVE) at $0.439.
All sorts of Questions
Following the latest buy, WLFi retains 3.5 million USDC in the new wallet, which sparks speculation that the project will soon buy more cryptocurrencies.
World Liberty Financial previously generated headlines for their crypto purchases before and on the day of Trump’s inauguration.
The entity conducted a buying spree of over $100 million in cryptocurrencies, including $47 million in ETH and $47 million in WBTC. WLFI also made small purchases of Aave (AAVE), Tron (TRX), Chainlink (LINK), and Ethena (ENA).
Donald Trump’s World Liberty Financial (@worldlibertyfi) is back to buying $ETH, $WBTC, and $MOVE!
In the past 45 minutes, the fund moved 25M $USDC to a new multi-sig wallet and purchased:
• 4,468 $ETH ($10M) at $2,238
• 110.6 $WBTC ($10M) at $90,420
• 3.42M $MOVE ($1.5M) at… https://t.co/pyElkjbFwf pic.twitter.com/azgZeglmQA— Spot On Chain (@spotonchain) March 5, 2025
The majority of cryptocurrencies saw their prices surge on Trump’s Inauguration Date.
WLFI added another $112.8 million worth of crypto assets on inauguration day, including $47 million each in ETH and WBTC, as well as $4.7 million each in AAVE, LINK, TRX, and ENA.
World Liberty Financial later sparked controversy after they moved their assets to CoinBase Prime, though it’s impossible to confirm whether these movements were aimed at sales.
The project stated that no sales occurred, and that those transactions were part of its Treasury management strategy.
Arkham Intelligence data shows that the DeFi project has allocated $336 million across nine token investments. Due to the recent crypto market pullback, and the claim that these assets are unsold, WLFI has experienced a paper loss of around $88 million.
ENA is projected to have the largest percentage loss, around 63%, and Ethereum the largest loss amount, $67 million ETH, a 31% drop.
WLFI’s Co-founder to Attend White House Crypto Summit
President Trump will host a White House crypto summit tomorrow. The event, the first of its kind, will welcome a mix of high-profile crypto industry leaders and key U.S. government officials.
As of March 5, the confirmed industry leaders include: Crypto.com CEO Kris Marszalek, Coinbase CEO Brian Armstrong, Strategy’s Michael Saylor, and Robinhood CEO Vlad Tenev, among others.
Zach Witkoff, co-founder of World Liberty Financial, is also among a select few guests, according to Fox Business’ Eleanor Terrett.
As for government officials, the confirmed are Bo Hines, David Sacks, SEC Acting Chair Mark Uyeda, and CFTC Acting Chair Caroline Pham.
The crypto summit is anticipated to be the largest event and a pivotal turning point for crypto markets this week.
Members of the crypto community highly expect that the administration will address the potential establishment of a national Bitcoin stockpile, in addition to key issues like the regulatory approach and legal frameworks.
Crypto enthusiasts also expect clarity on crypto reserve implementation, and apparently more details about the reserve. The President on Sunday stated that the U.S. crypto reserve would feature altcoins beyond Bitcoin, like ETH, XRP, Cardano (ADA), and Solana (SOL).
The decision has drawn intense criticism from a large part of the community. Many publicly oppose the idea of including altcoins in the national crypto reserve, despite Bitcoin and Ethereum being “at the heart” of the initiative.
Industry leaders, including Coinbase’s Brian Armstrong, have shown support for a Bitcoin-only reserve.
In a Wednesday interview with The Pavlovic Today, Howard Lutnick, the U.S. Commerce Secretary, confirmed that the President would unveil a strategy for a Bitcoin reserve. He also noted that Bitcoin would be treated differently than other cryptocurrencies.
Lutnick said that Trump continually talked about a BTC reserve during his campaign, and that the execution would come on Friday.
Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.
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