World Liberty Financial (WLFI), a DeFi project related to the Trump family, has expanded its digital asset portfolio by purchasing Avalanche (AVAX) and Mantle (MNT) tokens worth $4 million.
This investment was made a few days after the project denied investing in Binance.
WLFI backed by Trump invests $2 million in AVAX and MNT
On 16/03/2025, blockchain analytics firm Lookonchain reported that WLFI spent 2 million USDT to buy 103,911 AVAX at an average price of $19.25 per token. Another 2 million USDT was used to purchase 2.45 million MNT at around $0.81 per token.
This latest move has pushed WLFI's total cryptocurrency investments beyond $340 million, spread across 11 assets.
The investment portfolio now includes Ethereum (ETH), Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK), Aave (AAVE), Ethena (ENA), Movement (MOVE), Ondo (ONDO), and SEI, along with the newly acquired AVAX and MNT.
WLFI's increasing investment activity indicates an expansion of its strategy, but some analysts speculate that these buy transactions may be part of a broader token swap agreement.
Crypto researcher EmberCN pointed out that some assets in WLFI's portfolio have cross-investment relationships with the project. According to EmberCN, many projects seem to "support" WLFI by participating in its ecosystem, while WLFI's investment portfolio subsequently invests in those projects' tokens.
"The fact is that there are many tokens 'supporting' World Liberty Financial. That is, the project participates in WLFI, and then WLFI's investment portfolio buys the tokens of that project," EmberCN stated.
WLFI's cryptocurrency investments. Source: LookonchainDespite the strong expansion, WLFI's investment portfolio is still in the red. Data from Lookonchain estimates an unrealized loss of around $118 million, with Ethereum alone accounting for $88 million of that.
Rumors of Binance deal
These purchases come after recent reports from major media outlets, including The Wall Street Journal and Bloomberg, alleging that WLFI had engaged in discussions with Binance about a potential investment in the trading platform.
However, WLFI has denied any formal agreement with Binance. The project claims these reports have political motives, arguing that they have misunderstood its objectives. They also believe these articles aim to discredit the cryptocurrency industry.
Instead, the company reaffirmed its commitment to decentralized finance (DeFi).
"To clarify the facts: World Liberty Financial is a DeFi project with a grand mission to build and democratize a new financial system for the benefit of millions. That's it. We are proud to collaborate with many leading protocols and organizations driving the blockchain industry," WLFI stated.
Meanwhile, WLFI recently completed a token sale, raising around $590 million.
This token will serve as the governance mechanism for the World Liberty Financial Protocol. Token holders will be able to propose and vote on important decisions, ensuring a decentralized decision-making process that allows stakeholders to have a direct influence on the project's direction.
