Trump Now Investing in Ethereum (ETH)
The inauguration of President Donald Trump marked the beginning of what could be described as the United States’ first crypto presidency. Recent events have made this trend increasingly clear, with the launch of meme coins like $TRUMP and $MELANIA, alongside significant purchases of Bitcoin and Ethereum by a Trump-affiliated entity, World Liberty Financial. In a historic move, this entity has now staked a portion of its Ethereum holdings during the same period as Trump’s inauguration.
World Liberty Financial serves as a Decentralized Finance (DeFi) platform, aiming to democratize crypto-financial services. Users can currently leverage their crypto assets for borrowing or earn interest through various DeFi protocols like AAVE and LINK. The platform’s association with Donald Trump is highlighted by the entity DT Marks DEFI LLC, owned by Trump and his family members, with a majority stake in World Liberty Financial.
In a series of significant transactions, Trump’s World Liberty Financial recently purchased approximately 50,000 Ether coins for a value of around $160 million within a span of three days. The platform also acquired Bitcoin worth $4.69 million and is reportedly exploring the acquisition of TRON’s TRX tokens. Notably, World Liberty Financial has ventured into staking its ETH holdings, implying that Trump will now directly benefit from the Ethereum network’s transaction validation.
Despite its lofty ambitions, the $TRUMP meme coin faced challenges, particularly following the launch of the $MELANIA coin. Consequently, $TRUMP experienced a 16 percent decline in value over the past 24 hours. Nonetheless, the fully diluted value of the $TRUMP meme coin still stands impressively at $36 billion.
These developments underscore the evolving role of cryptocurrencies in political and financial landscapes, particularly with the prominent involvement of figures like Donald Trump and the innovative initiatives undertaken by entities like World Liberty Financial. As the crypto presidency unfolds, it will be interesting to observe how these interactions between traditional politics and emerging technologies shape the future of finance and governance.
