Donald Trump-linked DeFi fund invests $21.5 million in ETH, WBTC, and MOVE ahead of crypto summit
The World Liberty Financial (WLFI) DeFi fund, associated with Donald Trump and his family, has made a massive acquisition of cryptocurrencies, further solidifying its involvement in the blockchain ecosystem. WLFI added over $21.5 million in ether (ETH), wrapped bitcoin (WBTC), and MOVE to its war chest just days before a crypto summit at the White House on March 7.
Details of the purchases:
- 4,468 ETH at an average price of $2,238 each, totaling approximately $10 million.
- 110.6 WBTC at a price of $90,415 per unit, also totaling $10 million.
- 3.42 million MOVE tokens at $0.438 each, totaling approximately $1.5 million.
This move confirms WLFI’s intention to diversify and strengthen its presence in the crypto ecosystem. The purchase of MOVE tokens fuels speculation about a potential national reserve of altcoins. In fact, President Trump recently mentioned ‘Made in USA’ cryptocurrencies like Solana, XRP, or ADA for a potential national crypto reserve.
Although he later mentioned Bitcoin and Ethereum, Commerce Secretary Howard Lutnick believes the long-awaited national Bitcoin reserve will be separate from an altcoin reserve.
WLFI’s acquisitions have a political dimension as Donald Trump and his sons serve as ambassadors within the fund. This operation takes place as the US President plans to meet with several crypto project founders during the White House Crypto Summit on March 7. This event could signify a turning point in the regulation of digital assets in the United States, with strategic discussions between the administration and key industry players.
