Trump Family’s DeFi Project Stocked Up on Crypto Assets Ahead of White House Crypto Summit

Say what you will about the Department of Government Efficiency, but there are some ways that the Trump administration has significantly cut down on bloat. For example, it used to take at least a little digging to identify if a President was favor-trading and self-dealing. Now it seems like it just happens out in the open. So streamlined! To that end, cryptocurrency analysis platform Nansen AI reported that World Liberty Financial, a decentralized finance protocol that is operated primarily by President Trump’s three sons, purchased $25 million in cryptocurrencies including $10 million in Ethereum, $10 million in Wrapped Bitcoin (WBTC), and $1.5 million in of MOVE. That move comes just one day before President Trump will host the White House Crypto Summit on Friday. The company also announced Thursday that it was entering a “strategic reserve deal” with layer-1 blockchain project SUI, which caused a significant uptick in the value of the coin. Now, to be fair, it doesn’t exactly take ... Read full article.