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Immediately after Trump's inauguration ceremony, World Liberty Financial spent $110 million in stablecoin to purchase various crypto.
As Donald Trump took oath as the 47th President of the U.S. on Monday, World Liberty Financial, a cryptocurrency project backed by him, announced a series of strategic purchases, including Ethereum (CRYPTO: ETH) and Wrapped Bitcoin (CRYPTO: WBTC). What Happened: In an X post, the decentralized finance platform disclosed buying several cryptocurrencies, including $47 million each in Ethereum and Wrapped Bitcoin, a converted version of Bitcoin that can be used on Ethereum's blockchain.
World Liberty Financial, the Trump-backed DeFi protocol, is swapping stablecoins for wrapped bitcoin (WBTC) and Ethereum's native token ether, onchain data shows. The project is also apparently loading up on Chainlink's LINK, Ethena's ENA and TRON's TRX tokens.
World Liberty Financial has ramped up its investment activity, spending $109.1 million across six cryptocurrencies in a single day. The fund allocated $47 million within the past hour to acquire 7,022 ETH worth $23.5 million, 174.1 WBTC for $18.8 million, and 5.037 million ENA tokens valued at $4.7 million.
The buying frenzy came after WLFI token sales picked up ahead of Donald Trump's inauguration.
A wallet believed to belong to Donald Trump's family crypto venture World Liberty Financial has been involved in a series of recent transactions according to onchain data from Arkham Intelligence.
A significant event in the cryptocurrency market has emerged as a whale deposited a substantial $28.5 million worth of Wrapped Bitcoin (WBTC) to Binance on January 9, 2025. The sale, which involved 300 WBTC, resulted in an impressive profit of nearly $10 million for the trader.
This week's Crypto Biz explores Coinbase's wBTC controversial delisting, Deutsche Bank's blockchain, USDT in Europe, FTX creditors repayment and BVNK's move to the United States.
Top US-based crypto exchange platform Coinbase is removing support for Wrapped Bitcoin (wBTC) as the crypto king crashes below six figures.
BiT Global claims the delisting is defamatory and anti-competitive. Coinbase says it handles less than 1% of wBTC transactions, disputing market impact claims.
American crypto trading platform Coinbase Global Inc. has announced it has disabled trading for Wrapped Bitcoin (wBTC). The top crypto exchange noted that despite this move, the product will still become accessible to users.
Judge Martínez-Olguín ruled BiT Global failed to justify stopping Coinbase from delisting wBTC, calling claims speculative and delayed.
World Liberty Financial (WLFI), a Donald Trump decentralized finance project, has restructured its wrapped Bitcoin holdings. WLFI exchanged $10.4 million in Coinbase-backed cbBTC for 103.15 WBTC.
The involvement of Justin Sun in World Liberty Financial as an advisor could have a major role in the swapping of Coinbase-backed wrapped Bitcoin to its rival.
Coinbase has successfully dismissed a lawsuit from BiT Global, linked to Justin Sun, aimed at blocking the delisting of Wrapped Bitcoin (wBTC), with the court siding with Coinbase's concerns over customer protection and asset integrity. The post Coinbase Dismisses Justin Sun-Linked BiT Global Lawsuit Over wBTC Delisting appeared first on Cryptonews.
Coinbase announced in November that it would delist WBTC on December 19, after the token became affiliated with Tron founder Justin Sun.
Wolrd Liberty Financial, the new DeFi project by Donald Trump, has sold its cbBTC tokens to purchase wBTC.
The swap took place Wednesday, the same day BiT Global lost a court case seeking to prevent Coinbase delisting WBTC.
World Liberty Financial (WLFI), the decentralized finance project backed by Donald Trump, has sparked significant attention with a recent transaction. Blockchain analytics firm Lookonchain reported that WLFI swapped its portfolio of 102.9 cbBTC, valued at $10.4 million, for 103.15 WBTC (Wrapped Bitcoin).
A U.S. federal judge ruled against BiT Global's attempt to prevent Coinbase from delisting Wrapped Bitcoin (wBTC).
A Coinbase representative said the exchange may look to sanction the plaintiffs for bringing a spurious lawsuit.
Crypto exchange Coinbase has cited risks linked to Tron-founder Justin Sun during a lawsuit over its delisting of Wrapped Bitcoin (wBTC).
Coinbase will likely be able to move forward with its intention to suspend wBTC trading on Dec. 19 after a challenge in federal court.
Coinbase is under fire for delisting wBTC, citing risks linked to Justin Sun without providing technical justification. Critics note the irony, as Coinbase itself faces numerous regulatory investigations.
