Donald Trump’s cryptocurrency project WorldLibertyFinancial appears to be purchasing specialized digital tokens valued at tens of millions of dollars, as rumors swirl that the decentralized finance lending platform is about to become operational. Data from blockchain data company Nansen shows that digital wallets belonging to the project have bought 2,731 Ethereum, 4,043 AAVE and 78,387 LINK since December 11. Representatives for WorldLibertyFinancial did not respond to requests for comment.
WorldLibertyFinancial, unveiled in September this year, is a decentralized finance project that simulates financial activities, such as intermediary lending and trading. The president-elect's family, including Donald Trump and his sons Donald Trump Jr. and Eric Trump, have been aggressively promoting the project on social media and at public events.
The project's initial token sale failed to meet its goals until controversial cryptocurrency entrepreneur Justin Sun invested $30 million.
Chase Herro and Zachary Folkman, the founders of WorldLibertyFinancial, are not well-known in the cryptocurrency industry.
Nansen said the company appeared to have purchased approximately $10.4 million in Ethereum, $1.4 million in AAVE, and $2.2 million in LINK.
Data compiled by the agency show that LINK has risen by about 28% to $28 since Tuesday, while AAVE has risen by about 17% and reached $52. Ethereum, the second-largest token by market capitalization after Bitcoin, climbed about 8% to $3,932 during the same period.