Trump-backed World Liberty buys $20m worth of crypto before summit
The purchase includes $10.1 million in Ether, $9.9 million in Wrapped Bitcoin, and $1.68 million in MOVE tokens.
World Liberty Financial, a decentralized finance (DeFi) project backed by the Trump family, has made a significant $20 million investment in digital assets ahead of the White House’s first-ever crypto summit on 7 March.
The purchase includes $10.1 million in Ether, $9.9 million in Wrapped Bitcoin, and $1.68 million in Movement Network’s MOVE token. The move has attracted attention due to its timing, with the summit set to explore the future of crypto policy and the potential creation of a Bitcoin reserve.
World Liberty, launched by President Trump’s family in September, aims to allow crypto holders to trade and earn interest on assets without relying on centralised intermediaries.
The project has raised some eyebrows due to a previous report alleging attempts to swap its forthcoming WLFI tokens with other projects, though the company has denied any wrongdoing, clarifying that asset reallocations are for regular business purposes.
The timing of this large acquisition has sparked curiosity, especially with discussions about establishing a US crypto reserve at the summit. Adding to the intrigue, David Sacks, the US crypto czar, criticised past sales of Bitcoin by the government, which resulted in significant losses for taxpayers.
With the summit expected to feature key figures in the crypto industry, it remains to be seen how these developments will shape US policy on digital assets in the future.
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