World Liberty Financial, the decentralized finance project backed by U.S. President Donald Trump, has made another $10 million purchase of Ethereum.
Ethereum (ETH) price has struggled for upside momentum as Bitcoin (BTC) hit new all-time high above $108k.
However, Trump-backed World Liberty Financial has emerged as one of the top buyers of Ethereum, the largest altcoin by market capitalization.
After purchasing $47 million worth of Ethereum on Trump’s inauguration day, the decentralized finance project has now acquired an additional $10 million in two separate transactions. The latest purchase, made on January 31, saw World Liberty Financial spend 10 million USDT to acquire 2,972 Ethereum.
According to data from Spot On Chain, this transaction pushed the project’s total Ethereum holdings to over 70,000 Ethereum, valued at more than $225 million.
The doubling down on the altcoin makes Ether one of the Trump-backed project’s “ biggest bets in crypto.”
Data from market intelligence and analytics firm Arkham shows World Liberty Financial currently holds more than $428 million in various cryptocurrencies. These include $225 million in ETH, $68 million in wrapped Bitcoin, and nearly $66 million in staked Ethereum.
Ethereum price has gained by approximately 4.6% in the past 24 hours, trading to an intraday high of $3,420 on major crypto exchanges. However, despite the purchases, ETH remains largely stagnated below $4,000, having retreated from this level in mid-December 2024.
Fresh momentum amid the inflows into spot Ethereum ETFs seen this week may nonetheless fuel a push above the crucial level.
