{"id":812600,"date":"2024-12-17T21:14:24","date_gmt":"2024-12-18T03:14:24","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/17\/trumps-defi-projects-december-crypto-buying-spree-nears-45m\/"},"modified":"2024-12-17T21:14:24","modified_gmt":"2024-12-18T03:14:24","slug":"trumps-defi-projects-december-crypto-buying-spree-nears-45m","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/17\/trumps-defi-projects-december-crypto-buying-spree-nears-45m\/","title":{"rendered":"Trump\u2019s DeFi project\u2019s December crypto buying spree nears $45M"},"content":{"rendered":"
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World Liberty Financial\u2019s latest purchase was for $250,000 worth of ONDO, a token for a decentralized exchange. <\/p>\n

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Donald Trump\u2019s crypto project, World Liberty Financial, has been on a massive crypto buying spree in December \u2014 now nearing a total spend of $45 million after buying $250,000 of Ondo (ONDO). <\/p>\n

Since Nov. 30, a World Liberty wallet has purchased $30 million worth of Ether (ETH<\/a>) and $10 million worth of Coinbase Wrapped BTC (cbBTC) alongside a handful of other purchases, according to a Dec. 16 X post<\/a> from the blockchain monitoring account Lookonchain and data<\/a> from Arkham Intelligence.<\/p>\n

Lookonchain said World Liberty\u2019s most recent buy at around 11 pm UTC on Dec. 15 was for $250,000 worth of Ondo (ONDO<\/a>), about a day after it bought $500,000 worth of Ethena (ENA).<\/p>\n

It had previously purchased $2 million each of Chainlink (LINK<\/a>) and Aave (AAVE<\/a>), bringing its total token buys for this month to $44.75 million.<\/p>\n

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Source: <\/em>Lookonchain<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

The project, unveiled in September, bills itself as a decentralized finance (DeFi<\/a>) platform for trading crypto that lists president-elect Trump<\/a> as its \u201cchief crypto advocate\u201d and his sons<\/a> Donald Jr, Eric and Barron as \u201cambassadors.\u201d A company linked to the family is entitled to 75% of net revenues.<\/p>\n

Nansen research analyst Nicolai S\u00f8ndergaard recently told<\/a> Bloomberg that World Liberty\u2019s token buys could be \u201da way to gain additional trust or a way to boost the project by shedding light on these assets as the project will likely do well if these assets do.\u201d<\/p>\n

The project has struggled<\/a> to meet the goal for the sale of its self-titled World Liberty Financial (WLFI) token. So far, it\u2019s sold less than a quarter of the $300 million WLFI it put up for sale.<\/p>\n

It did, however, get a boost last month when Tron blockchain founder Justin Sun bought $30 million worth<\/a> and became the project\u2019s largest investor and was then later added as an adviser.\u00a0<\/p>\n

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Sun and Tron have been accused<\/a> of selling unregistered securities by the Securities and Exchange Commission \u2014 an agency Trump promised to overhaul to be more crypto-friendly.<\/p>\n

Meanwhile, on Dec. 13, AaveDAO, the autonomous collective behind the DeFi protocol Aave, passed<\/a> World Liberty\u2019s proposal to allow it<\/a> to deploy an Aave instance \u2014 its own version of the protocol.<\/p>\n

World Liberty proposed allowing for the borrowing and lending of Ether, Wrapped Bitcoin (WBTC), and stablecoin\u2019s USD Coin (USDC<\/a>) and Tether (USDT<\/a>). It\u2019d also give 20% of fees generated to AaveDAO and 7% of WLFI\u2019s supply, worth $21 million, with its price at 1.5 cents.<\/p>\n

World Liberty Financial did not immediately respond to a request for comment.<\/p>\n

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