World Liberty Financial (WLFI), a crypto project inspired by President-elect Donald Trump, is reportedly planning to acquire Tron (TRX) tokens for its treasury.
A source familiar with the matter told crypto media outlet CoinDesk about World Liberty Financial’s plan to purchase TRX tokens.
However, the unnamed source did not disclose when the transaction could occur or how much TRX the project will add to its crypto stash.
This move could strengthen the relationship between World Liberty Financial and the Tron ecosystem. It should be recalled that Tron’s founder, Justin Sun, is already an advisor to World Liberty Financial. He also invested $30 million in the project, making him the single-largest holder of the WLFI token.
World Liberty Financial Crypto Stash
Sun’s investment contributed significantly to the $90 million World Liberty Financial raised through WLFI sales. So far, the crypto project has acquired several tokens for its treasury. Last month, it splashed over $12 million to acquire multiple altcoins, such as Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).
A few days later, World Liberty Financial embarked on another crypto shopping spree, spending over $1 million to purchase Ondo (ONDO) and Etherna (ENA).
Currently, the blockchain wallet used for these transactions holds 1,213 ETH ($4.01 million), 17.1 million USDC, 6,137 AAVE ($1.95 million), 78,387 LINK ($1.89 million), 17,620 WBTC ($1.81 million), 741,687 ENA ($654,919), 134,216 ONDO ($183,876), and 83,525 USDT.
The wallet holds an additional 82 altcoins in small proportions, including Uniswap (UNI) and Pepe (PEPE).
Tron to Attend Donald Trump’s Inauguration
Meanwhile, the crypto community is anticipating Trump’s inauguration as the 47th president of the United States. Trump’s reign is expected to pave the way for fair and friendly crypto regulation given his support for the sector.
Consequently, top crypto stakeholders might attend his inauguration on January 20 to felicitate with him. Notably, a delegation from Tron expected to attend. A source claimed that Tron was among the crypto projects that sponsored Trump’s inaugural ceremony.
It is worth noting that TRX surged to an intraday high of $0.2587 following the CoinDesk report. However, it lost most of its gain almost immediately, falling by 6.41% from its intraday peak to $0.2421. The token is currently down 0.95% in the past day and 0.38% in the past week.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
