World Liberty Financial’s Surge in Ethereum Purchases
A decentralized finance (DeFi) initiative known as World Liberty Financial (WLFI), which has associations with Donald Trump, has recently been on a significant Ethereum purchasing surge. According to on-chain analyst Ai, who shares insights with their 102,900 followers on X (formerly Twitter), three addresses connected to WLFI managed to gather a total of 10,013.54 Ether (ETH) over merely six days. This acquisition, valued around $35.98 million, came at an average buying price of $3,593 per Ether.
Trump’s Financial Disclosure and Ownership Changes
In his latest financial disclosure to the U.S. Office of Government Ethics, Trump reported earning over $57.3 million from his involvement with World Liberty. However, it was observed that a corporate entity associated with him and his family has discreetly reduced its ownership in this DeFi platform. Specifically, DT Marks DEFI LLC, the company linked to Trump, previously held a 60% stake in WLFI but now possesses about 40% of the equity in WLF Holdco LLC, which retains sole membership interest in World Liberty Financial.
WLF Holdco LLC and Its Role
WLF Holdco LLC is recognized as the entity that receives net revenue from the protocols within the DeFi framework, except for the proceeds generated from the sale of WLFI tokens. It’s essential to highlight that the company’s documentation explicitly states that Trump and his family members do not hold any official roles such as officer or director within either WLF Holdco LLC or World Liberty Financial.
Introduction of USD1 Stablecoin
Furthermore, the platform introduced a stablecoin, USD1, in March 2023, aimed at maintaining a 1:1 value ratio with the U.S. dollar.
