Trump Supports Cryptocurrency! World Liberty Financial Makes Major Purchases of Bitcoin and Ethereum
On the eve of the upcoming White House cryptocurrency summit, World Liberty Financial, backed by Trump, announced significant purchases of Bitcoin and Ethereum and plans to hold the emerging token Sui, drawing widespread attention from the market. This move not only boosted the prices of related cryptocurrencies but also further solidified Trump's influence in the cryptocurrency space.
Large Purchases of Bitcoin and Ethereum
According to a report from blockchain data tracking firm Arkham Intelligence, World Liberty Financial's related wallets recently purchased nearly $10 million worth of Ethereum (ETH) and $10 million worth of Wrapped Bitcoin (WBTC), as well as $1.5 million in Movement (MOVE) tokens. WBTC is an Ethereum-based token backed by Bitcoin, allowing traders to use Bitcoin in decentralized finance (DeFi) applications.
This purchase coincides with the upcoming inaugural cryptocurrency summit at the White House, where industry leaders are expected to gather to discuss the future development of cryptocurrencies. World Liberty Financial's actions undoubtedly add more highlights to the summit.
Sui Token Price Soars
After World Liberty Financial announced plans to hold Sui tokens, the price of the token surged 11% in a short period, reaching $2.81. The Sui blockchain is the network behind the 19th largest cryptocurrency SUI, initiated by former Meta engineers, who recently announced a collaboration with World Liberty Financial to 'explore innovative opportunities'.
Trump's Cryptocurrency Agenda
The Trump administration has recently been increasingly involved in the cryptocurrency space. Last Sunday, President Trump stated that the government would purchase a large amount of digital currencies and tokens, including Bitcoin, Ethereum, and Solana, as a strategic reserve. This statement immediately propelled the prices of related assets upward, although there was a brief pullback due to market concerns over trade tariffs.
Trump proposed an agenda supporting cryptocurrencies during his campaign and received widespread backing from tech and digital asset entrepreneurs. World Liberty Financial, as one of the cryptocurrency firms supported by Trump, was launched ahead of the new Republican president's term, aiming to provide lending services through decentralized finance (DeFi) projects.
