In a new move reflecting the rising influence of political capital in the cryptocurrency market, World Liberty Financial (WLFI), backed by former U.S. President Donald Trump, continued to purchase large quantities of Ethereum (ETH), despite growing concerns about conflicts of interest between Trump's political ambitions and his investments in the crypto sector.
According to data from Lookonchain on July 29, WLFI purchased an additional batch of 256.75 Ethereum units at a price of $3,895 per unit, equivalent to approximately one million US dollars paid via the stablecoin USDC.
This deal is part of a continuous series of purchases over the past weeks, the most notable being a recent purchase worth $30 million. Thus, WLFI's holdings of Ethereum have risen to 77,226 units, with a market value nearing $296 million, placing the company at unrealized gains of approximately $42 million, based on an average purchase price of $3,294.
Strong performance for Ethereum and renewed investor appetite
This investment comes at a time when Ethereum is experiencing a continuous rise, trading at $3,824 at the time of the report, achieving gains exceeding 55% over the last 30 days, despite a slight decline of 1.6% in recent hours.
Trump's digital investments ignite controversy
WLFI's activity coincides with parallel moves by other entities linked to Trump, most notably the Trump Media and Technology Group, which recently invested $300 million in Bitcoin options, prompting sharp criticism from experts warning of the increasing risks of leveraging political influence for private investment interests.
