Trump-Linked Crypto Fund Expands Holdings Despite $120M Loss
A crypto project linked to former U.S. President Donald Trump has made another substantial investment in digital assets, according to blockchain tracking data.
World Liberty Financial (WLFI), the entity associated with Trump, recently purchased approximately $2 million worth of Avalanche (AVAX) and Mantle (MNT).
Avalanche serves as a competitor to Ethereum at the layer-1 level, while Mantle operates as a layer-2 scaling solution for the Ethereum network. Despite these latest acquisitions, WLFI’s overall portfolio remains deep in the red.
Data from Lookonchain reveals that the fund has allocated $343 million across 11 different cryptocurrencies but is currently facing an unrealized loss of about $120 million.
READ MORE: Strategy Boosts Bitcoin Holdings to 499,226 BTC with Latest Purchase
Beyond these private investments, Trump has also put forward a proposal for the U.S. to establish a national crypto reserve consisting of Bitcoin and other major digital assets. His announcement of the initiative briefly sent the global crypto market soaring by $100 billion before the rally lost momentum.
He positioned the reserve as a response to what he described as “corrupt attacks” on the crypto industry by the Biden administration, reiterating his vision of making the U.S. a global leader in digital assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
