Trump-linked World Liberty Financial buys ETH, WBTC, and MOVE

Donald Trumps World Liberty Financial has made another significant crypto investment, acquiring $21.5 million worth of Ethereum, Wrapped Bitcoin, and Movement Network tokens.

According to a Mar. 6 X post by on-chain analytics platform Spot On Chain, the transactions were executed using USDC from a newly created multi-signature wallet, with $3.5 million still remaining in the wallet.

The fund acquired 4,468 Ethereum (ETH) for $10 million at an average price of $2,238, 110.6 Wrapped Bitcoin (WBTC) for $10 million at $90,420 per coin, and 3.42 million Movement (MOVE) tokens for $1.5 million at $0.439 each.

Arkham Intelligence data shows WLFI now holds over $78.5 million in digital assets as of Mar. 6. Its largest positions include 7,091 ETH valued at $16.16 million, 162.69 WBTC worth $14.87 million, 12.88 million Tether (USDT), 4,972 staked ETH amounting to $11.32 million, and 40.71 million Tron (TRX) valued at $9.96 million.

The fund also holds smaller amounts of USD Coin (USDC), Ondo (ONDO), and WhiteRock, in addition to other digital assets.

The fund‘s latest acquisitions come as Trump’s administration moves forward with plans to establish a U.S. strategic crypto reserve. On Mar. 2, Trump directed the Presidents Working Group on Digital Asset Markets to create a reserve comprising key cryptocurrencies.

While initial reports highlighted assets like Ripple (XRP), Solana (SOL), and Cardano (ADA), Trump later clarified that Bitcoin (BTC) and Ethereum would be central to the initiative.

The move has sparked controversy, with some claiming that the reserve may increase the value of assets owned by Trump and his associates. According to reports, Trump and his cronies own more than 60% of WLFI, which raises questions regarding a potential conflict of interest.

However, The Trump Organization claims that the president has distanced himself from commercial activities and has denied any misconduct. His children, a separate ethics attorney, and an outside investment firm currently supervise WLFIs management.

Despite these assurances, watchdog groups remain skeptical, pointing to past instances where Trumps business and political interests appeared intertwined.