The crypto project backed by US President Donald Trump has acquired another multi-million-dollar batch of digital assets, on-chain data shows.
According to blockchain tracking firm Lookonchain, World Liberty Financial (WLFI) bought about $2 million worth of Avalanche (AVAX) and Mantle (MNT).
Avalanche is a layer-1 Ethereum (ETH) rival, while Mantle is a prominent Ethereum layer-2 scaling solution.
However, Lookonchain notes that WLFI’s portfolio, which includes more than 11 crypto assets, is losing on every single token, down nearly $120 million in total.
“Trump’s World Liberty [Financial] bought 103,911 AVAX ($2 million) and 2.45 million MNT ($2 million)…
In total, World Liberty has spent $343 million on 11 different tokens – but every single one is in the red, with a total loss of $118 million!”
At time of writing, AVAX is trading at $18.35 while MNT is priced at $0.826.
Besides privately accumulating digital assets through WLFI, President Trump has also proposed for the US to create its own national crypto strategic reserve of Bitcoin (BTC) and several large-cap altcoins.
Trump’s initial confirmation of the crypto reserve triggered a $100 billion surge in the global crypto market, which was ultimately short-lived.
Trump framed the reserve as a response to what he called “corrupt attacks” on the crypto industry by the Biden administration, emphasizing his goal to make the US the “crypto capital of the world.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
