World Liberty Financial (WLF), a decentralized finance platform affiliated with President Donald Trump and his family, added approximately 439 Wrapped Bitcoin (WBTC) to its holdings during Monday’s (20 January 2025) inauguration.
The purchase, valued at around $47 million, was executed through ten separate transactions, swapping stablecoins for WBTC, a token on the Ethereum network pegged 1:1 to Bitcoin.
Following the acquisition, WLF now holds 456.77 Wrapped Bitcoin, worth $47.4 million, making it the platform’s third-largest asset after Ethereum and the stablecoin USDC.
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World Liberty Financial Resumes Crypto Purchases
The recent purchase comes on the heels of a similar purchase the previous day, when WLF added a substantial amount of Ethereum to its treasury.
Eric Trump, WLF’s Web3 Ambassador and the president’s son, hinted at the activity in a post on X, commenting on the Ethereum purchase, “Wait until you see what they do tomorrow!”
The acquisitions, amounting to nearly $100 million in Bitcoin and Ethereum over two days, are part of the platform’s stated “regular treasury management” strategy.
“We’re making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses, and to address working capital requirements,” WLF explained in a recent statement.
As of now, WLF’s treasury holds over $320 million in crypto assets, including more than $5 million each of AAVE, LINK, and ENA, according to data from Arkham Intelligence. On Inauguration Day, WLF also added $4.7 million worth of these tokens alongside its Bitcoin and Ethereum purchases.
To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce the following strategic purchases today:
$47,000,000 ETH
$47,000,000 wBTC
$4,700,000 Aave
$4,700,000 LINK
$4,700,000 TRX
$4,700,000 ENAExcited for the…
— WLFI (@worldlibertyfi) January 20, 2025
The company’s activities align with the broader market trend, as Bitcoin reached a new all-time high of $108,786 early Monday before settling at $102,780.
Meanwhile, WLF announced that it had sold 20% of its presale tokens and opened an additional 5% to the public. Despite the sales, over 3 billion WLF tokens remain available at $0.05 each.
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Trump Appoints Crypto-Friendly Individuals To Key Positions
Last month, Trump nominated former Securities and Exchange Commission Commissioner Paul Atkins, a crypto advocate, to chair the agency. Industry leaders hope Atkins’ leadership will bring a more favorable regulatory environment for digital assets.
Under the Biden administration, outgoing SEC Chair Gary Gensler took a stringent approach to the crypto industry, initiating enforcement actions against several high-profile companies and projects.
Trump has been critical of Gensler’s policies, promising during his campaign to fire him “on day one.” However, Gensler pre-empted this move by announcing his resignation, effective January.
As reported, the SEC has taken a tougher stance against crypto firms in 2024. More specifically, the regulator imposed nearly $4.7 billion in enforcement actions against crypto companies, a 3,018% increase from 2023.
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The post Trump’s World Liberty Financial Adds $47M In Wrapped Bitcoin During Inauguration Day appeared first on 99Bitcoins.
