Trump-Backed World Liberty Financial Bags $10M In Ethereum: What’s Going On?

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, purchased Ethereum (CRYPTO: ETH) worth $10 million on Wednesday.

What Happened: According to on-chain tracking platform Lookonchain, World Liberty Financial spent $10 million worth of stablecoin USD Coin (CRYPTO: USDC) to buy 2,631 ETH at a per-unit price of $3,801. With this grab, its total ETH holdings shot up to around 14,571, worth over $56 million at the current market price.

The project also bagged $1 million in Chainlink (CRYPTO: LINK), and $1 million in Aave (CRYPTO: AAVE.), on-chain data showed.

The purchases were made through the World Liberty Multisig wallet, with the funds being converted from USDC.

The World Liberty Financial team didn’t immediately return Benzinga’s request for clarification on these purchases.