Trump's DeFi project invests $45 million in crypto assets

Donald Trump's crypto initiative, World Liberty Financial (CRYPTO:WLFI), has significantly increased its investment in digital currencies this December, totaling nearly $45 million.

The latest acquisition involved $250,000 worth of Ondo (CRYPTO:ONDO), a token associated with a decentralised exchange.

Since November 30, the project has purchased approximately $30 million in Ether (CRYPTO:ETH) and $10 million in Coinbase Wrapped Bitcoin, among other assets.

Blockchain monitoring service Lookonchain revealed that the recent Ondo purchase occurred late on December 15, following a $500,000 investment in Ethena (CRYPTO:ENA).

World Liberty Financial's total token purchases for December now amount to $44.75 million.

The project, which was launched in September, aims to create a decentralised finance platform for trading cryptocurrencies.

Trump is listed as the "chief crypto advocate," with his sons serving as ambassadors.
A company linked to the Trump family is entitled to 75% of net revenues.

Nicolai Søndergaard, a research analyst at Nansen, suggested that these acquisitions could enhance trust and visibility for the project.

Despite the significant investments, World Liberty Financial has struggled to sell its own token, WLFI, having sold less than a quarter of the $300 million it aimed to raise.

However, the project gained momentum last month when Tron founder Justin Sun invested $30 million and became its largest investor.

In a notable development on December 13, AaveDAO approved World Liberty’s proposal to utilise its protocol for lending and borrowing cryptocurrencies like Ether and Wrapped Bitcoin (CRYPTO:WBTC).

World Liberty has committed to sharing a portion of generated fees with AaveDAO and allocating part of its WLFI supply as part of this collaboration.

No immediate comment was provided by World Liberty Financial regarding these developments.