World Liberty Monetary Initiative (WLFI), a DeFi challenge backed by US President-elect Donald Trump, has made headlines with a current $12 million crypto acquisition.
On Dec. 12, blockchain analytics agency Lookonchain revealed that WLFI acquired 2,631 ETH for $10 million at $3,801 per token. Moreover, it purchased 41,335 LINK and three,357 AAVE, investing $1 million in every.
In line with Arkham Intelligence data, these purchases have boosted the challenge’s crypto holdings to a price exceeding $74.7 million. WLFI now holds roughly 14,576 ETH (value over $57 million), 102.9 cbBTC (valued at $10.3 million), and different belongings like USDC alongside its newly acquired LINK and AAVE.
WLFI’s substantial crypto buy seems to have influenced market circumstances. In line with CryptoSlate’s information, each LINK and AAVE recorded worth will increase exceeding 25% inside 24 hours.
WLFI goals to place itself as a leading DeFi platform that provides lending, borrowing, and digital asset funding companies. It additionally reportedly plans to introduce a proprietary stablecoin and instruments for accessing third-party DeFi functions.
Market implications
The crypto group has been buzzing with hypothesis about WLFI’s current strikes. Some imagine the asset decisions align with a pro-crypto agenda anticipated beneath Trump’s administration.
A pseudonymous crypto dealer, Circulation Horse, suggested that WLFI might have strategically invested in tokens anticipated to thrive beneath favorable US rules.
In the meantime, different business analysts additionally level to WLFI’s deal with DeFi, viewing the LINK and AAVE purchases as a sign of confidence in decentralized monetary applied sciences over speculative belongings like memecoins.
Chainlink’s Group Liaison, Zach Rynes, highlighted that adopting Chainlink Price Feeds for WLFI’s Aave V3 integration may very well be a driving issue behind the acquisition. He additionally famous that the purchases would possibly replicate confidence in a extra supportive regulatory atmosphere beneath Trump’s management.
Trump’s evolving stance on crypto additional fuels this narrative. Over the previous yr, the President-elect strongly advocated for the business throughout his marketing campaign and has made a collection of pro-crypto appointments, together with that of David Sachs because the White House Crypto Czar.
Observers mentioned these efforts display a dedication to delivering on his regulatory readability and business help guarantees.