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Donald Trump-Backed Crypto Project Invests $48 Million in Ethereum
In a shocking move, World Liberty Financial, a crypto project backed by none other than former US President Donald Trump, has invested a staggering $48 million in Ethereum (ETH). This massive purchase brings the total amount of Ethereum held by World Liberty Financial to an astonishing 33,630 ETH, valued at over $107 million.
It is worth noting that this substantial investment comes at a time when the ETH/BTC ratio has shown a slight recovery, with a modest increase of 0.79%. This follows a six-week decline of 18% for the same ratio. On January 19th, the price of Ether fluctuated wildly, ranging from $3,133.98 to $3,439.78 before settling at $3,230. Meanwhile, interest in Ethereum skyrocketed on Google Trends, with “Ethereum” reaching peak search popularity.
The timing of this purchase is also notable as it comes amidst the launch of a memecoin by World Liberty Financial on the Solana blockchain. The token’s price surged to an all-time high of $270 following its release. Eric Trump, an adviser for World Liberty Financial and Donald Trump’s son, hinted at further developments in a recent post on X, stating that “Wait until you see what they do tomorrow.”
This massive investment also takes place amidst the Trump family’s increasing involvement in the crypto space. Notably, Melania Trump, the former US President’s wife, launched her own memecoin called MELANIA just one day prior to Donald Trump’s U.S. presidential inauguration. The token quickly gained traction and reached a market value of $6 billion within two hours.
Source: coinchapter.com
