World Liberty, Purchases $110 Million in Cryptocurrency on Trump's First Day in Office

Cryptocurrency company World Liberty Financial (WLFI) reportedly purchased $110 million worth of cryptocurrency on the first day of Donald Trump's presidency.

On the 20th (local time), The Block reported this information citing data from blockchain analysis platform Arkham Intelligence. Specifically, World Liberty Financial purchased a total of $112.8 million (approximately 160 billion KRW) in cryptocurrency, including $47 million worth of Ethereum and $47 million worth of Wrapped Bitcoin (WBTC).

Ethereum is a core part of World Liberty Financial's portfolio. With this purchase, World Liberty Financial's Ethereum holdings increased to 57,115 units. The market value of these Ethereum holdings is approximately $185.14 million.

Meanwhile, this purchase followed World Liberty Financial's recent sale of 10 billion of its own tokens. The tokens sold this time account for 20% of the total supply. According to blockchain data platform Dune Analytics, the amount raised by World Liberty Financial through its token presale since last October amounts to $300 million.