World Liberty Financial Increases Ether Holdings with Additional $10 Million Purchase

World Liberty Financial (WLFI), the decentralized finance (DeFi) platform associated with the Trump family, has expanded its cryptocurrency portfolio by acquiring an additional $10 million worth of Ether (ETH). This latest purchase brings WLFI’s total ETH holdings to 66,239 ETH, valued at approximately $225 million.

The acquisition on January 31 follows a similar $10 million ETH purchase made on January 28, indicating WLFI’s ongoing strategy to bolster its presence in the cryptocurrency market. Beyond ETH, the platform has diversified its investments by acquiring assets such as Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK), and Aave (AAVE), primarily through the CoW Protocol exchange.

Established in mid-September 2024, WLFI maintains strong ties to the Trump family. Former President Donald Trump serves as the “Chief Crypto Advocate,” with his sons, Eric Trump and Donald Trump Jr., holding the titles of “Web3 Ambassador.” The platform was co-founded by developers Chase Herro and Zachary Folkman, known for their previous work on the DeFi project Dough Finance.

WLFI’s recent activities have not been without controversy. The platform faced criticism after purchasing approximately $2 million worth of Movement (MOVE) tokens shortly before reports emerged of Elon Musk’s Department of Government Efficiency engaging with Movement Labs, the creators of MOVE.

In addition to these developments, President Trump has been expanding his involvement in the crypto space. On January 29, Trump Media and Technology, the parent company of Truth Social, announced plans to venture into financial services, including cryptocurrency offerings. Previously, Trump launched non-fungible token (NFT) collections and his own memecoin, which quickly became a top token by market capitalization, allowing holders to purchase various Trump-branded merchandise.

WLFI’s continued investment in ETH comes at a time when the cryptocurrency has historically performed well in February and March during bull markets. However, ETH has faced challenges this January, even as the broader cryptocurrency market has seen gains. The Ethereum community is currently engaged in discussions regarding the Ethereum Foundation’s leadership, with some analysts suggesting that clarity about the upcoming Pectra upgrade and the success of spot ETH exchange-traded funds could be pivotal for ETH to surpass the $3,500 resistance level.

As WLFI continues to expand its cryptocurrency holdings, the platform’s strategic moves and their implications for the broader DeFi landscape will be closely monitored by industry observers.