Trump Backed World Liberty Financial Acquires $15M of ETH

Donald Trump backed crypto project, World Liberty Financial (WLF) has again made headlines with purchasing over 4,563 ETH for $15 million on 19th January. The latest purchase has set a trend for Ethereum as it comes a day before Trump’s inauguration ceremony. 

Purchased at an average price of $3,287 per ETH, this strategic acquisition positions WLF as a major Ethereum holder within the crypto community. The firm’s total ETH holdings now stands at 17,980 ETH, which is valued approximately $61.6 million. 

As per DeBank data , World Liberty Financial currently holds $106 million of crypto assets including ETH, stablecoins USDT and USDC, AAVE, LINK, WBTC and several other Altcoins. 

World Liberty Financial’s Crypto Holding – Source: DeBank

The announcement of WLF’s latest purchase triggered a rally in ETH price with it rising over 8% in the past 24 hours and the price quickly jumped from $3,193 to $3,400 within hours. 

Currently, the crypto market is abuzz with renewed optimism following Trump’s crypto friendliness and favoring micro-economic factors. Several analysts are suggesting that Trump’s re-entry into White House could signal a broader trend for Bitcoin and other crypto assets. 

With WLF continuing to increase its crypto holdings, market players are speculating on their next potential investment. For now, the firm’s actions are viewed as a strong vote of confidence in Ethereum which adds more momentum to the cryptocurrency’s upward trajectory.