Trump-Backed Crypto Project WLFI Boosts Ethereum Holdings by $10M in 12 Minutes

The Trump-backed crypto project, World Liberty Finance (WLFI), has been making waves in the crypto world. In a recent development, WLFI increased its Ethereum (ETH) holdings by 2972 coins in just 12 minutes, according to data from Arkham Monitor. This significant purchase, valued at approximately 10 million USDT, has sparked speculation about the project's future plans and the potential impact of a Trump presidency on the crypto market.

WLFI's Ethereum holdings now account for a substantial portion of its overall crypto assets. As of January 31st, the project's address has exceeded $420 million in cryptocurrency assets, with Ethereum assets making up 65.34% of the total. This includes 63,255 ETH and 19,412 STETH, as well as a significant Bitcoin (BTC) holding of 646.715 WBTC, which accounts for 16.02% of the total assets.

The Trump administration's stance on cryptocurrencies has been a topic of interest for investors. While the former president himself has been critical of Bitcoin, his potential influence on the crypto market remains a subject of debate. Some analysts believe that a Trump presidency could ignite a crypto explosion, with certain coins potentially benefiting from increased adoption and investment.

However, it is essential to note that the crypto market is highly volatile and influenced by various factors, including regulatory changes, technological advancements, and market sentiment. While a Trump presidency may have an impact on the crypto market, it is just one of many factors that could shape the industry's future.

In other news, Sam Bankman-Fried's parents, Joseph Bankman and Barbara Fried, have been reportedly exploring clemency options for their son, who was sentenced to 25 years in prison for multiple fraud charges related to the collapse of FTX. The family has met with individuals close to Trump's administration to discuss the possibility of a presidential pardon. Trump's history of granting pardons to figures like Ross Ulbricht has sparked optimism among some white-collar defendants, but crypto analyst Lucien Bourdon has pointed out that Bankman-Fried's case involves severe fraud and embezzlement allegations, which may make a pardon less likely.

As the crypto industry continues to evolve, staying informed about major developments and shifts in