Trump's World Liberty buys $20M in crypto

World Liberty Financial (CRYPTO:WLFI), a decentralised finance (DeFi) project backed by President Donald Trump's family, has acquired over $20 million in digital assets just before the White House's first crypto summit on March 7.

The purchase includes $10.1 million worth of Ether (CRYPTO:ETH), $9.9 million in Wrapped Bitcoin (CRYPTO:WBTC), and $1.68 million in Movement Network's MOVE (CRYPTO:MOVE) token.

This strategic investment comes as anticipation builds for the summit, which is expected to reveal important details about the Trump administration's forthcoming crypto policies, including plans for a Bitcoin (CRYPTO:BTC) reserve.

The summit will feature discussions between crypto industry leaders and members of President Trump's Working Group on Digital Assets.

World Liberty Financial was launched in September 2024 and aims to revolutionise DeFi by allowing users to buy, sell, and earn interest on their holdings without centralised intermediaries.

Eric Trump described it as "the future of finance."

The timing of the purchase has raised speculation that the Trump administration may announce pro-crypto policies during the summit.

David Sacks, White House crypto advisor, recently criticised past U.S. government Bitcoin sales, noting that taxpayers lost potential profits due to a lack of long-term strategy.

As the crypto landscape evolves, World Liberty Financial's investment strategy and the White House summit are closely watched for their potential impact on U.S. crypto policies and the broader digital asset market.

The White House summit is seen as a pivotal moment in shaping the future of cryptocurrencies in the U.S., with discussions likely to focus on regulatory frameworks and market stability.

The presence of influential industry leaders underscores the growing importance of cryptocurrencies in the global economy.