World Liberty Financial, the DeFi project promoted by U.S. President Donald Trump, spent millions of USDC stablecoin to purchase MOVE and wrapped BTC, according to Nansen data.
In a series of transactions on Thursday, World Liberty spent around $1.4 million in USDC stablecoin to buy 2.52 million MOVE tokens. World Liberty also traded $5 million in USDC to purchase 52 wrapped BTC. MOVE is Movement Labs' native utility token.
In addition to purchases, the Trump-backed DeFi project staked 2,221 ETH ($5.9 million) with Lido Finance and deposited 5 million USDC into Aave's lending protocol on Thursday.
Earlier this week, World Liberty had acquired 830,469 MOVE tokens and 1,917 ETH by spending its USDC holdings, according to SpotOn Chain.
Since Nov. 30 last year, World Liberty has bought over $315 million worth of crypto, including 63,030 ETH at an average price of $3,331 and 699 wrapped BTC at an average of $105,197, according to Lookonchain. Other major purchases include millions of dollars worth of TRX, LINK, AAVE and ENA.
Meanwhile, the project recently announced that it is forming a strategic token reserve called Macro Strategy to help the DeFi project diversify its funds, mitigate risks and act as a “robust financial backbone.”
World Liberty also said that it will make more effort to partner with traditional finance institutions and have them contribute their tokenized assets to the reserve.
“This initiative is more than just a strategic move; it is a testament to our unwavering dedication to innovation, collaboration, and the empowerment of our community,” the announcement said.
The yet-to-be-active World Liberty project has sold over 96% of its WLFI token supply, with around 926.9 million tokens remaining, according to its official website. WLFI tokens are expected to give holders voting rights on project governance proposals and are non-transferable, unlike many other cryptocurrencies.
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