Trump’s crypto venture World Liberty Financial buys 231k more ENA, now holds over 740k

World Liberty Financial (WLFI), Donald Trump’s ambitious crypto project, just spent $250,000 USDC to snag 231,726 Ethena (ENA) tokens through Cow Protocol. This bumps their ENA holdings to 741,687, according to data from Arkham Intelligence.

WLFI’s December buying spree totaled nearly $45 million, expanding its position across multiple crypto assets. The breakdown:

• $30 million secured 8,100 Ethereum (ETH).
• $10 million was invested in Coinbase Wrapped Bitcoin (cbBTC).
• $2 million each allocated to Chainlink (LINK) and Aave (AAVE).
• $250,000 picked up 134,216 Ondo (ONDO) tokens via Cow Protocol on December 16.

WLFI tokens rally as the market responds

The crypto market hasn’t ignored WLFI’s spending spree. Several of its key assets have rallied, with Chainlink (LINK) leading the charge at a 28% surge, now valued at $28. Aave (AAVE) followed with a 17% gain, landing at $52. Ethereum (ETH) edged up by 8%, trading at $3,912.

WLFI’s purchases have fueled speculation about the project’s ability to boost confidence in these tokens. The platform has partnered with AaveDAO, leveraging Aave’s protocols for lending and borrowing services. In return, AaveDAO gets 20% of WLFI’s fee revenue and 7% of its total token supply.

And then there’s Justin Sun, founder of TRON, who invested $30 million in WLFI. His involvement has been a bit controversial, but the backing undeniably adds firepower to WLFI’s arsenal.

But WLFI hasn’t had it easy since its September unveiling. Early token sales brought in $220 million, but wallet authenticity concerns during the launch cast doubt over the project’s credibility.

Despite the briefly strong start, sales have slowed. WLFI wanted to sell $300 million worth of tokens but has managed to offload less than 25% of the remaining supply. Still, Trump’s project soldiers on, banking on his name and its strategic moves to attract investors.