WLFI Invests $1.4 Million in MOVE Tokens and $5 Million in WBTC
World Liberty Financial (WLFI), a decentralized finance platform backed by Donald Trump, has made significant crypto purchases. Key actions include:
- Acquisition of 2.52 million MOVE tokens for approximately $1.4 million in USDC on February 13.
- Purchase of 52 wrapped Bitcoin (WBTC) for $5 million in USDC.
- Staking and lending activities: allocation of 2,221 ETH (about $5.9 million) to Lido Finance and a $5 million USDC deposit into Aave.
- Previous acquisitions this week included 830,469 MOVE tokens and 1,917 ETH.
WLFI's recent initiatives support its strategic token reserve, "Macro Strategy," aimed at diversifying holdings and enhancing liquidity. Discussions are ongoing with traditional financial institutions for tokenized asset contributions.
Crypto Asset Accumulation
- WLFI has accumulated over $315 million in crypto assets since November 2024.
- This includes 63,030 ETH at an average price of $3,331 and 699 WBTC at an average price of $105,197.
- Investments also extend to TRX, LINK, AAVE, and ENA.
- Stablecoin reserves include $37.26 million in USDC and $10.84 million in USDT as of early February.
The project has sold over 96% of its WLFI token supply, leaving 926.9 million tokens that are currently non-transferable, leading to speculation about future exchange listings or airdrops.
Skepticism in the Community
Despite growth, WLFI faces skepticism due to:
- Concerns over centralization; its governance token is locked.
- 75% of net profits directed to a Trump-affiliated entity.
- Co-founders' previous association with Dough Finance, which struggled financially.
- Chase Herro’s familial ties to Trump raising questions about the project's backing.