Donald Trump’s crypto venture, World Liberty Financial, has been on a major buying spree this December, spending nearly $45 after a recent $250,000 investment in Ondo (ONDO).
Since November 30, a World Liberty wallet has made significant crypto purchases, including $30 million in Ether and $10 million in Coinbase Wrapped BTC (cbBTC), along with several smaller buys.
According to Lookonchain, World Liberty’s recent purchase was $250,000 worth of Ondo on December 15 at around 11 PM UTC, just a day after spending $500,000 on Ethena (ENA).
Earlier, it also bought $2 million worth of Chainlink (LINK) and Aave, bringing its total crypto purchases this month to $44.75 million.
Launched in September, the project promotes itself as a decentralized finance (DeFi) platform for crypto trading. It names president-elect Trump as its “chief crypto advocate” and his sons, Donald Jr., Eric, and Barron, as “ambassadors.” A family-linked company is set to receive 75% of the net revenues.
Nansen research analyst Nicolai Søndergaard told Bloomberg that World Liberty’s token purchases might be a strategy to build trust or promote the project by highlighting these assets, as the project’s success likely depends on their performance.
The project has fallen short of its goal for selling its World Liberty Financial (WLFI) token, with less than a quarter of the $300 million offering sold so far.
The project got a boost last month when Tron blockchain founder Justin Sun invested $30 million, becoming its largest investor. He was later added as an adviser.
Sun and Tron have been accused by the Securities and Exchange Commission of selling unregistered securities, an agency that Trump has pledged to reform to be more supportive of crypto.
On December 13, AaveDAO, the group behind the DeFi protocol Aave, approved World Liberty’s proposal to launch its own version of the Aave protocol.
World Liberty proposed allowing users to borrow and lend Ether, Wrapped Bitcoin (WBTC), and stablecoins like USD Coin (USDC) and Tether. The proposal also includes giving 20% of the fees earned to AaveDAO and 7% of WLFI’s supply, valued at $21 million, with its price at 1.5 cents. World Liberty Financial has not yet responded to a request for comment.
