President Trump's World Liberty multisig wallet has spent $12 million buying Ethereum, Chainlink, and AAVE. ETH price rose 2% after the purchase, while LINK and AAVE rose over 20%. This move follows the recent announcement in November that World Liberty would adopt Chainlink and AAVE for its DeFi platform.
Donald Trump-backed DeFi platform World Liberty Financial (WFLI) spent $12 million on Ethereum (ETH), Chainlink (LINK), and Aave (AAVE) on Thursday, leading to a 2% rise in ETH and LINK caused a backlash of more than 20%. And AAVE.
WFLI already announced in November that it would integrate Chainlink and Aave into its decentralized finance (DeFi) ecosystem.
Donald Trump's company's virtual currency hoarding scandal
According to Thursday's Lookonchain data, President Trump's World Liberty Financial multisig wallet has $10 million in USDC stable to buy 2,631 ETH, $1 million to buy 41,335 LINK, and $1 million to buy 3,357 AAVE. A total of $12 million was spent on purchasing coins.
ETH prices rose 2% on the news, while LINK and AAVE rose more than 20% in early European trading on Thursday.
ETH, LINK, AAVE charts. Source: CoinGecko
On November 14th, WLFI announced that it will adopt the Chainlink standard for on-chain data and cross-chain connections as a secure way to move DeFi to the next stage of mass adoption.
We are pleased to announce that we have hired . @chain link Standards for on-chain data and cross-chain connectivity as a secure way to take DeFi to the next stage of mass adoption. https://t.co/KBJmSplT9e
— WLFI (@worldlibertyfi) November 14, 2024
Additionally, on November 27th, the platform’s DAO proposed deploying World Liberty Financial Aave v3 instances to the Ethereum mainnet. This development will bring over-collateralized lending and borrowing to more users in DeFi.
New proposal alert!
We have published a proposal for deploying World Liberty Financial Aave v3 instances on Ethereum mainnet. This enables seamless overcollateral lending to more users of DeFi.
Check it out and share it on our governance forum.
— WLFI (@worldlibertyfi) November 26, 2024
