Donald Trump’s World Liberty Financial (WLFI) has made another significant crypto investment, purchasing $21.5 million worth of Ethereum (ETH), Wrapped Bitcoin (WBTC), and Movement Network (MOVE) tokens.
Breakdown of the Crypto Acquisition
According to an on-chain analytics report from Spot On Chain on March 6, WLFI executed the transactions using USDC from a newly created multi-signature wallet, with $3.5 million still remaining in the wallet. The purchases included:
- 4,468 ETH for $10 million at an average price of $2,238
- 110.6 WBTC for $10 million at $90,420 per coin
- 3.42 million MOVE tokens for $1.5 million at $0.439 each
The transactions highlight WLFI’s growing crypto portfolio, further solidifying its presence in the digital asset space.
WLFI’s Expanding Crypto Holdings
Data from Arkham Intelligence reveals that as of March 6, WLFI holds more than $78.5 million in digital assets. Its largest holdings include:
- 7,091 ETH valued at $16.16 million
- 162.69 WBTC worth $14.87 million
- 12.88 million USDT
- 4,972 staked ETH valued at $11.32 million
- 40.71 million TRX worth $9.96 million
The fund also holds smaller amounts of USDC, Ondo (ONDO), and WhiteRock, among other digital assets.
Trump’s Crypto Reserve Plans and Controversy
WLFI’s latest acquisitions come as Trump’s administration pushes forward with its plan to establish a U.S. strategic crypto reserve. On March 2, Trump directed the President’s Working Group on Digital Asset Markets to create a reserve composed of key cryptocurrencies.
Initially, reports suggested that Ripple (XRP), Solana (SOL), and Cardano (ADA) would be included in the reserve. However, Trump later clarified that Bitcoin (BTC) and Ethereum (ETH) would serve as the initiative’s primary assets.
The proposal has sparked controversy, with critics arguing that the reserve could inflate the value of assets held by Trump and his associates. Reports indicate that Trump and his inner circle control more than 60% of WLFI, raising concerns over a potential conflict of interest.
Ethics and Oversight Concerns
Despite these concerns, The Trump Organization has denied any misconduct, stating that Trump has distanced himself from business operations. The management of WLFI is reportedly overseen by his children, an external ethics attorney, and an independent investment firm.
However, watchdog groups remain skeptical, citing previous instances where Trump’s business and political interests appeared intertwined. The situation continues to draw scrutiny, with many closely watching how WLFI’s crypto activities align with the administration’s broader policy moves.
As WLFI deepens its crypto investments and Trump’s administration advances its strategic reserve initiative, the debate over potential conflicts of interest is expected to persist. With growing regulatory attention on digital assets, the intersection of politics, finance, and cryptocurrency is likely to remain a key area of discussion in the months ahead.
