Trump’s World Liberty Financial Acquires Blue Chip DeFi Tokens

President-elect Donald Trump’s DeFi Project, World Liberty Financial acquired nearly $45 million worth of positions in ETH, cbBTC (Coinbase BTC) AAVE, ENA, LINK, and ONDO this week.

Since Nov. 30, the team spent $30 million on ETH, $10 million on cbBTC, $2 million on LINK, $2 million on AAVE, $500,000 on ENA, and $250,000 on ONDO, according to LookOnChain.

The altcoins in particular responded positively to the news, and as a result, AAVE is up 37% in the past seven days, LINK is up 31%, ONDO is up 25% and ENA is up 24%.

The purpose of the token acquisitions remains unclear but investors are excited that a DeFi protocol led by the soon-to-be inaugurated president is investing back in the Ethereum DeFi ecosystem. Traders are speculating further investments may be on the table.

Despite the large purchases, World Liberty Financial has remained silent on the acquisitions, with the most recent communications coming on Dec. 9 about a proposal to launch a World Liberty Financial Aave v3 instance for the protocol.

The proposal, which passed with a 100% “yes” vote, established that the WLFGI protocol would provide liquidity for “Ethereum, Wrapped Bitcoin, certain stablecoins, and potentially other digital assets.”

While the proposal outlines that WLFI Protocol “will allow USDC, USDT, ETH, and WBTC for both borrowing and lending” the cbBTC acquisition implies that the protocol will be working with both of the wrapped BTC alternatives.

The “Trump-pump” extended beyond just the acquired assets. The WLFI wallet used security-focused decentralized exchange CoW Swap in order to convert USDC into the purchased tokens, and as a result CoW Protocol’s token, COW surged 83% in the last 7 days.