Trump’s World Liberty Financial Transfers $10M USDC for ETH

• Trump’s World Liberty Financial fund has transferred about $10M USDC to acquire ETH. 
• Crypto assets like Aave (AAVE) and Chainlink (LINK) were also added for $1M each.
• BlackRock and Fidelity collectively bought Ethereum for over half a billion dollars.

President-elect Donald Trump’s crypto fund, World Liberty Financial, has grabbed headlines by moving USDC for Ethereum (ETH). According to Onchain data, the project had bought 2,631 ETH worth $10 million. Each token is priced at $3,801. This acquisition has taken the ETH holding of the fund to over 14,500 ETH, which is equivalent to $56 million in value.

Besides Ethereum, the crypto project expanded its portfolio by purchasing Chainlink (LINK) and Aave (AAVE) for $1 million each. About 41,335 LINK tokens and 3,357 AAVE tokens were moved. 

These investments are in line with the objectives of the project to extend financial access. By enhancing the Aave protocol and Chainlink’s Oracle service, cross-chain communication and data transmissions on blockchains can be improved. These initiatives are projected to increase the decentralized financial services of the fund. Through this, transparency and security can also be promoted.

On the other hand, institutional investors such as BlackRock and Fidelity have emerged to have invested more than half a billion dollars in Ethereum. From the Arkham Intel records, transactions have been observed over the last forty-eight hours. With this move, the crypto community’s belief in Ethereum is strengthened. Apart from inflation hedge, it can also be considered a fundamental infrastructure in the decentralized economy. 

These measures can create long-term changes in the cryptocurrency space, thereby boosting Ethereum in the DeFi segment. The crypto acquisitions by the project also marks a milestone for blockchain adoption under Trump’s leadership. With this, the United States can become the world leader in blockchain innovation.

It is worth mentioning that as the crypto market develops, World Liberty Financial and other institutional members bear responsibility for shaping the market. This will also help in incorporating blockchain into the existing financial systems.

The post Trump’s World Liberty Financial Transfers $10M USDC for ETH appeared first on CryptoTale.