President Trump’s World Liberty Financial Purchases More Crypto As Total Losses Hits $118,000,000: On-Chain Data
The Latest Crypto Move by Trump-Backed Project: $2 Million in AVAX and MNT Acquired
The latest move by the crypto project backed by US President Donald Trump has made headlines in the digital asset space. According to on-chain data from Lookonchain, World Liberty Financial (WLFI) has recently purchased approximately $2 million worth of Avalanche (AVAX) and Mantle (MNT) tokens.
AVAX is known as a layer-1 Ethereum rival, offering a new approach to blockchain consensus, while Mantle serves as a prominent layer-2 scaling solution for the Ethereum network.
Despite this latest acquisition, Lookonchain points out that WLFI’s overall crypto portfolio, consisting of more than 11 different tokens, is currently facing losses on every single asset. The total loss amounts to nearly $120 million.
The data reveals, “Trump’s World Liberty Financial bought 103,911 AVAX ($2 million) and 2.45 million MNT ($2 million)… In total, World Liberty has spent $343 million on 11 different tokens – but every single one is in the red, with a total loss of $118 million!“
As of the current trading session, AVAX is priced at $18.35, while MNT stands at $0.826 in the market.
In addition to these acquisitions, President Trump has also proposed the creation of a national crypto strategic reserve for the US, focusing on Bitcoin (BTC) and other major altcoins. This move was initially met with enthusiasm, triggering a $100 billion surge in the global crypto market. However, the market reaction was short-lived.
Trump positioned the reserve as a response to what he deemed as “corrupt attacks” on the crypto industry by the Biden administration, emphasizing his vision for the US to become the “crypto capital of the world.”
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