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World Liberty Monetary Initiative (WLFI), a DeFi venture backed by US President-elect Donald Trump, has made headlines with a latest $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 keeping with Arkham Intelligence knowledge, these purchases have boosted the venture’s crypto holdings to a worth exceeding $74.7 million. WLFI now holds roughly 14,576 ETH (price over $57 million), 102.9 cbBTC (valued at $10.3 million), and different property like USDC alongside its newly acquired LINK and AAVE.
WLFI’s substantial crypto buy seems to have influenced market circumstances. In keeping with starcrypto’s knowledge, each LINK and AAVE recorded worth will increase exceeding 25% inside 24 hours.
WLFI goals to place itself as a number one DeFi platform that gives lending, borrowing, and digital asset funding providers. It additionally reportedly plans to introduce a proprietary stablecoin and instruments for accessing third-party DeFi purposes.
Market implications
The crypto group has been buzzing with hypothesis about WLFI’s latest strikes. Some imagine the asset selections align with a pro-crypto agenda anticipated underneath Trump’s administration.
A pseudonymous crypto dealer, Circulation Horse, urged that WLFI might have strategically invested in tokens anticipated to thrive underneath favorable US laws.
In the meantime, different business analysts additionally level to WLFI’s give attention to DeFi, viewing the LINK and AAVE purchases as a sign of confidence in decentralized monetary applied sciences over speculative property like memecoins.
Chainlink’s Neighborhood Liaison, Zach Rynes, highlighted that adopting Chainlink Worth Feeds for WLFI’s Aave V3 integration could possibly be a driving issue behind the acquisition. He additionally famous that the purchases would possibly replicate confidence in a extra supportive regulatory atmosphere underneath 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 Home Crypto Czar.
Observers stated these efforts reveal a dedication to delivering on his regulatory readability and business assist guarantees.