In anticipation of the White House crypto summit set for March 7, WLFI, linked to Trump, acquired $21.5 million in digital assets. Is this within legal bounds? Possibly.
Data from Arkham Intelligence indicates that WLFI transferred $25 million in USDC to a new multi-signature wallet on Wednesday. From there, they went on a shopping spree: buying 4,468 Ether at $2,238, 110.6 units of Wrapped Bitcoin priced at $90,420, and securing 3.42 million Movement tokens at $0.439 each.
All sorts of Questions
Post-purchase, WLFI has maintained a balance of 3.5 million USDC in their new wallet, fueling rumors that more cryptocurrency acquisitions are on the horizon.
World Liberty Financial previously captured media attention with their substantial crypto acquisitions on the eve and morning of Trump’s presidency.
The organization executed a massive crypto-buying mission, amassing over $100 million, notably spending $47 million each on Ethereum and Wrapped Bitcoin, alongside smaller investments in popular altcoins like AAVE, TRX, LINK, and ENA.
Trump's World Liberty Financial moved assets @worldlibertyfi ) is back to buying $ETH , $WBTC , and $MOVE !
In the past 45 minutes, the fund moved 25M $USDC into a new multi-sig wallet, purchasing:
• 4,468 $ETH ($10M) at $2,238
• 110.6 $WBTC ($10M) at $90,420
• 3.42M $MOVE ($1.5M) at… https://t.co/pyElkjbFwf pic.twitter.com/azgZeglmQA— Spot On Chain (@spotonchain) March 5, 2025
Many digital currencies experienced considerable price hikes in alignment with Trump’s Swearing-in Ceremony.
On inauguration day, WLFI increased its crypto holdings by $112.8 million, obtaining $47 million of Ethereum and Wrapped Bitcoin respectively, along with $4.7 million each of AAVE, LINK, TRX, and ENA.
In a controversial move, World Liberty Financial later shifted their assets to Coinbase Prime, though it's unclear if these actions indicated an intent to sell.
WLFI asserts that no assets were sold and these endeavors reflected their treasury management strategy.
Arkham Intelligence have revealed that the DeFi project allocated $336 million among nine different cryptocurrencies. Despite encountering losses amid a market downturn—estimated at $88 million—WLFI claims these remain unsold.
ENA has experienced the steepest depreciation at around 63%, while Ethereum has declined by an amount of $67 million, a 31% dip.
WLFI Co-founder is Set to Participate in the White House Crypto Summit
With President Trump due to convene a crypto summit at the White House tomorrow, the unprecedented event is bringing together top crypto figures and influential U.S. government leaders.
Confirmed as of March 5, notable industry figures include Crypto.com's Kris Marszalek, Coinbase's Brian Armstrong, Michael Saylor from Strategy, and Robinhood’s Vlad Tenev, among others.
Joining as special guests is Zach Witkoff, a co-founder of World Liberty Financial, as reported by Eleanor Terrett from Fox Business.
Accompanying government representatives include Bo Hines, David Sacks, Mark Uyeda (acting SEC Chair), and Caroline Pham (acting CFTC Chair).
This crypto summit is poised to be a significant milestone for the digital currency space this week.
Crypto community members are hopeful that discussions will tackle the creation of a national Bitcoin reserve, and cover critical topics such as regulatory and legal issues.
Enthusiasts are eager to learn about the implementation of crypto reserves and expect more specifics. President Trump hinted at a U.S. crypto reserve including altcoins like ETH, XRP, ADA, and SOL along with Bitcoin.
This proposal has faced strong opposition from the crypto community, who predominantly disagree with adding altcoins to the national reserve, though Bitcoin and Ethereum remain central to the plan.
Prominent leaders in the field, such as Coinbase's Brian Armstrong, have voiced support for a Bitcoin-exclusive reserve.
In a recent interview with The Pavlovic Today, U.S. Commerce Secretary Howard Lutnick confirmed Trump's upcoming announcement about the Bitcoin reserve plans on Friday, noting the distinct approach for Bitcoin versus other digital currencies.
Lutnick also shared that during Trump's campaign, the establishment of a Bitcoin reserve was a repeated topic.
