Trump's Crypto Project Invests in 3 Major Altcoins
The crypto project World Liberty Financial (WLFI), managed by the sons of elected U.S. President Donald Trump, has announced its investment in three major altcoins.
This week, the platform expanded its project portfolio by investing a total of $5 million in three significant assets: Ethereum (ETH), Chainlink (LINK), and Aave (AAVE). These investments are seen as part of the protocol's effort to diversify its reserves by entering the Link and Aave markets for the first time.
With these new investments, WLFI aims to empower DeFi platforms. The project's community approved a proposal for the Aave v3 protocol, which includes assets such as Ethereum (ETH) and Wrapped Bitcoin (WBTC), as well as stablecoins like Tether (USDT) and USDC, for lending and borrowing activities. According to this arrangement, AaveDAO will receive 7% of the circulating supply of WLFI tokens and 20% of the fees generated through the newly established protocol.
World Liberty Financial's DeFi-focused expansion strategy leverages the Chainlink infrastructure for data validation and cross-chain connectivity. The project’s community aims to support the assets used in its DeFi platforms by proposing the launch of the Aave v3 protocol on Ethereum alongside LINK. In the past week, LINK has seen an impressive rise of 23% and AAVE by 44%, while Ethereum has also gained significant momentum, approaching the $4,000 mark.
According to Arkham Intelligence data, the World Liberty Financial protocol currently holds over $50 million in ETH and approximately $74 million worth of cryptocurrency. These expansions in the crypto market demonstrate the project's confidence and commitment to major platforms such as Ethereum.
Trump's interest in the crypto industry continues to grow.
World Liberty Financial made waves when it was introduced by Eric Trump in August 2024. The project has been presented as a challenge to the traditional financial system by Trump. Aimed at providing crypto lending and borrowing services, the platform has emerged as an unexpected focal point in Donald Trump’s reelection campaign, following his previous anti-Bitcoin stance. Trump has now become one of the biggest supporters of the crypto ecosystem.
Since his reelection, Trump has further solidified his crypto-friendly stance by nominating crypto advocates such as Paul Atkins to lead the SEC. Additionally, Florida Congressman Matt Gaetz has been appointed as the next Attorney General. Trump's commitment to the crypto industry is evidenced by his promises to remove Gary Gensler from office and reform crypto regulations.