Brief Take
- DeFi project linked to Donald Trump purchased over $25 million worth of ETH, WBTC, and MOVE.
- The purchase happened just ahead of the first-ever White House crypto summit.
President Donald Trump’s DeFi project World Liberty Financial purchased over $25 million worth of cryptocurrency, just two days before top officials at leading crypto forms meet to address crypto policies at the White House. The purchases included large amounts of ETH, WBTC, and MOVE, per on-chain data.
World Liberty Financial spends $25 Million on WBTC, ETH, and MOVE
On-chain data from Nansen shows that the organization acquired an additional $10 million worth of Ether, $10 million worth of Wrapped Bitcoin (WBTC), and $1.5 million in MOVE, the native token behind the Movement Network Blockchain ecosystem.
Hours ago, Trump’s project @worldlibertyfi made a $25M crypto play
— Nansen 🧭 (@nansen_ai) March 6, 2025
$10M $ETH
$10M $WBTC
$1.5M $MOVE
More to come? pic.twitter.com/lQY56l88hO
Crypto purchases by World Liberty Financial are not new. However, the timing of the latest buy, with regard to the White House crypto summit, spurred postulations around the purpose.
Further data from Arkham Intelligence showed that World Liberty Financial’s Ethereum holdings increased over the last week – growing from about 2,200 ETH on Monday to over 7,000 ETH in about 72 hours.
Excitement gears ahead of first-ever White House crypto summit
The acquisition occurred just before the first-ever crypto summit will be held at the White House. The event is slated to host top cryptocurrency founders and address the future of cryptocurrency laws.
The meeting is also scheduled to address the potential creation of a US strategic crypto reserve, a topic that has attracted supporters and doubters nationwide. However, most of the crypto market appears excited ahead of Friday’s summit.
Bitcoin gained over 3% over the last 24 hours as investors anticipate future industry directives from the crypto summit. The world’s largest cryptocurrency by market capitalization briefly hit the $92,700 mark before correcting to around $91,380 amid profit-taking.
Other altcoins aren’t left out of the party, as Dogecoin surged by 4% within the last 24 hours. Solana and Ether saw gains of around 3.8% and 2.3% over the same period. Market experts anticipate additional price activities leading into Friday’s event amid general cautiousness as stakeholders await higher regulatory clarity for the crypto industry.
