Donald Trump’s World Liberty Monetary has made one other vital crypto funding, buying $21.5 million value of Ethereum, Wrapped Bitcoin, and Motion Community tokens.
Based on a Mar. 6 X submit by on-chain analytics platform Spot On Chain, the transactions had been executed utilizing USDC from a newly created multi-signature pockets, with $3.5 million nonetheless remaining within the pockets.
The fund acquired 4,468 Ethereum (ETH) for $10 million at a mean value of $2,238, 110.6 Wrapped Bitcoin (WBTC) for $10 million at $90,420 per coin, and three.42 million Motion (MOVE) tokens for $1.5 million at $0.439 every.
Arkham Intelligence knowledge exhibits WLFI now holds over $78.5 million in digital belongings as of Mar. 6. Its largest positions embrace 7,091 ETH valued at $16.16 million, 162.69 WBTC value $14.87 million, 12.88 million Tether (USDT), 4,972 staked ETH amounting to $11.32 million, and 40.71 million Tron (TRX) valued at $9.96 million.
The fund additionally holds smaller quantities of USD Coin (USDC), Ondo (ONDO), and WhiteRock, along with different digital belongings.
The fund’s newest acquisitions come as Trump’s administration strikes ahead with plans to ascertain a U.S. strategic crypto reserve. On Mar. 2, Trump directed the President’s Working Group on Digital Asset Markets to create a reserve comprising key cryptocurrencies.
Whereas preliminary reviews highlighted belongings like Ripple (XRP), Solana (SOL), and Cardano (ADA), Trump later clarified that Bitcoin (BTC) and Ethereum could be central to the initiative.
The transfer has sparked controversy, with some claiming that the reserve might improve the worth of belongings owned by Trump and his associates. Based on reviews, Trump and his cronies personal greater than 60% of WLFI, which raises questions concerning a possible battle of curiosity.
Nonetheless, The Trump Group claims that the president has distanced himself from industrial actions and has denied any misconduct. His kids, a separate ethics lawyer, and an out of doors funding agency at the moment supervise WLFI’s administration.
Regardless of these assurances, watchdog teams stay skeptical, pointing to previous situations the place Trump’s enterprise and political pursuits appeared intertwined.
