A wallet connected to Trump-backed World Liberty Financial has recently been purchasing upwards of $5 million in $ETH and other crypto assets, including Coinbase Wrapped $BTC, $LINK & AAVE, according to on-chain data . The recent purchases have brought the wallet's crypto token holdings to over $72 million.
This move came as no surprise to the industry, as President Trump, his sons, and affiliates have been very vocal about his changed stance on the Bitcoin and cryptocurrency industry, now viewing it as a tool to further establish the United States as the most dominant economy in the world.
This change of tone is speculated to stem from his three sons, Don Jr, Eric, and Barron, all of whom have publicly engaged with crypto in some capacity.
Eric, his second oldest son, recently spoke at Bitcoin MENA, a conference in Abu Dhabi hosted by David Bailey and Bitcoin Magazine . Backstage after his speech, in an interview with Bloomberg, Eric Trump said “I believe in cryptocurrencies, cryptocurrencies are the future”.
In addition to the WLFI purchase, President-elect Trump has appointed venture capitalist and former PayPal COO David Sacks to lead his policy on AI and crypto. In his announcement post on Truth Social, Trump stated “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness."
David Sacks is not alone in pro-crypto appointments , as Trump also announced that he will nominate Paul Atkins to lead the Securities and Exchange Commission (SEC).
Trump acknowledged Bitcoin and crypto's recent optimistic price surge, posting from his Truth Social account , “$100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!"
Despite Trump being a former Bitcoin skeptic, it is clear that the President-elect and his inner circle not only support the crypto industry from a policy standpoint but also have ‘skin in the game’.