Another huge move by the Donald Trump family’s cryptocurrency project, World Liberty, has been spending $2.5 million to buy Ethereum (ETH) while the price was still falling. The acquisition is part of the project’s initiative to be a leader in decentralized finance as it continues to adopt an aggressive strategy to leverage market downturns.
According to data from blockchain analytics firm Arkham Intelligence, World Liberty bought 759.36 ETH for $2.5 million in the stablecoin USDC. The 137 ETH was bought via the Cow Protocol intent-based trading platform at an average cost of $3,651 per ETH. The transaction was executed.
It comes as the cryptocurrency has taken a market thrashing from Bitcoin and other digital assets but doubles down on World Liberty’s Ethereum investment. It’s a bad time for the crypto market. Bitcoin fell below $93,000 on December 20, sending ripples to altcoins. Ethereum’s price crashed to around $3,100 at the same time as the sell-off.
Trump’s World Liberty Faces Losses but Holds Strong
World Liberty’s crypto portfolio has been down during the downturn, which has been particularly hard on the project’s ETH holdings. Blockchain monitoring platform Lookonchain said that the Trump family-backed project suffered total losses of $6.15 million during the market slide. The $4.86 million came from the devaluation of Ethereum.
As the market declined, #Trump‘s World Liberty’s recent purchases of $ETH, $WBTC, $AAVE, $LINK, $ENA, and $ONDO fell into the red, with a total loss of $6.15M.
The biggest loss came from $ETH, totaling $4.86M.https://t.co/aOEC9OCBT1 pic.twitter.com/4SL29JpFFj
— Lookonchain (@lookonchain) December 20, 2024
World Liberty Financial has lost some money but is still a big player in the crypto world. According to Arkham data, the project currently holds about 16,400 ETH, or about $53.73 million. The project’s crypto holdings are worth $73.9 million, including many assets purchased in its decentralized finance to supplement its offerings.
The volatility has shown that World Liberty still invests in Ethereum as part of a long-term strategy to expand its crypto portfolio. The project is betting instead on a recovery in ETH and the crypto market by buying on dips.
The project’s added intrigue comes from World Liberty’s endorsement of the Trump family, and crypto enthusiasts and political observers are interested. In a volatile market, it will be up to this newest acquisition to prove itself or create more financial strain in the short term. World Liberty’s bold moves show the company’s willingness to take all the risks when staking large amounts of cryptocurrency to navigate the unpredictable crypto landscape.
