WLFI Buys More Ethereum as Prices Soar
As prices continue to rise, Donald Trump-backed DeFi company World Liberty Financial (WLFI) has added more Ethereum to its collection. Data released by Lookonchain on July 29 indicates that WLFI has acquired an extra 256.75 Ethereum valued at $3,895. The acquisition, which was made for about $1 million USDC (USDC), comes days after WLFI’s $30 million purchase and is the most recent in a series of consistent purchases over the past month.
WLFI Scores $42M Profit as Ethereum Surges Past $3,700
At current pricing, World Liberty Financial’s entire Ethereum holdings are valued at 77,226 and around $296 million. With an average token price of about $3,294, the company has made almost $42 million.
On the other hand, Ethereum has been rising. At the time of writing, ETH was trading just above 3748, having recovered from months of decline and rekindled investor interest. The second-largest cryptocurrency asset is up more than 53% in the last 30 days, despite reporting a slight 1.55% drop in the last day.
Trump-Linked Crypto Moves Spark Concerns Over Political Influence
A larger trend of cryptocurrency exposure by Trump-affiliated organizations is consistent with WLFI’s ETH buying binge. Only a few days ago, the Trump Media and Technology Group made an investment of over $300 million in Bitcoin options. The president is pushing for the introduction of pro-industry legislation, which coincides with the growing exposure and a change in the regulatory landscape in the United States. Now, there is criticism of the move’ timing.
Experts are raising concerns about the connections between Trump’s financial operations involving cryptocurrency and his political influence, according to a recent Bloomberg investigation. Critics contend that there is an increasing chance that legislation will be influenced to suit private interests, given that WLFI is aggressively purchasing ETH and that Trump Media is making significant wagers on Bitcoin.
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