Trump Family-Backed DeFi Project Sparks Crypto Surge With $12M Token Investment
Crypto markets saw a significant uptick on Thursday after World Liberty Financial (WLFI), a decentralized finance (DeFi) platform supported by the Trump family, made substantial token purchases.
World Liberty Financial provides a range of services, including cryptocurrency borrowing and lending, liquidity pools, and stablecoin transactions. Its native governance token, WLFI, enables users to vote on key decisions affecting the platform’s future.
President-elect Donald Trump serves as the “chief crypto advocate” for the project, while his sons Eric and Donald Trump Jr. hold titles as “web3 ambassadors,” and Barron Trump is described as the platform’s “DeFi visionary.”
Major Token Purchases Spark Market Movement
Early Thursday, wallets associated with WLFI purchased $10 million worth of ether (ETH), $1 million each of AAVE and Chainlink (LINK) tokens. Following the purchases, ETH saw a 7% price surge, while AAVE and LINK soared by 30%.
WLFI’s wallets have been actively acquiring Ethereum-based assets, with $30 million spent in the last two weeks alone to acquire 8,105 ETH at an average price of $3,700. According to Spot on Chain, the ongoing purchases underscore the platform’s strategic positioning in the crypto market.
Crypto influencer @TheFlowHorse suggested that these moves are part of a broader plan for the Trump family-backed platform: “The recent purchases are likely tied to future DeFi ventures that will capitalize on the market’s growth.”
Strengthening Ties with Chainlink
WLFI has integrated Chainlink’s decentralized oracle network for pricing data and cross-chain connectivity. This partnership was strengthened further by the recent purchase of $1 million in LINK tokens.
Zach Rynes, a Chainlink community liaison, explained, “World Liberty Financial’s adoption of Chainlink’s technology earlier this year, coupled with these LINK purchases, reinforces the long-term alignment between the two projects. With the regulatory landscape shifting in favor of crypto, both platforms are well-positioned for growth.”
Aave Proposal Gains Momentum
WLFI is also progressing with plans to deploy an Aave v3 instance, which was recently approved by the platform’s decentralized autonomous organization (DAO). The vote has already reached quorum ahead of the December 13 deadline, and the proposal aims to boost platform accessibility by leveraging Aave’s liquidity services on Ethereum.
The proposal also aims to attract first-time users and incentivize liquidity providers with revenue-sharing opportunities. This move is part of WLFI’s broader strategy to expand its user base and strengthen its position within the DeFi ecosystem.
With major token purchases, strategic collaborations, and a solid governance framework in place, World Liberty Financial appears to be positioning itself as a key player in the growing DeFi landscape.
