Trump-Backed DeFi Protocol Acquires MOVE Tokens Amidst Musk's Blockchain Explorations

World Liberty Finance (WLFI), a decentralized finance (DeFi) protocol backed by the Trump family, has added MOVE tokens to its portfolio. The acquisition comes amidst reports of discussions between Movement Labs and Elon Musk's Department of Government Efficiency (DOGE) regarding blockchain usage.

On Jan. 28, WLFI acquired over $1.9 million worth of MOVE tokens, representing 0.5% of its total portfolio. The purchase follows a Bloomberg News report from Jan. 25, which stated that Musk is exploring blockchain technology to reduce government costs as part of his DOGE initiative.

The MOVE token price surged by 27% within 24 hours following the news, reaching nearly $0.90. As of press time, the token is trading at $0.80.

Concurrently, the Movement Network Foundation launched its developer mainnet (devnet) on Jan. 28, marking the second phase of its roadmap. The devnet enables select developers to deploy decentralized applications (dApps) on the Movement Network and provides access to new features, technical documentation, and developer resources.

The devnet phase is expected to last until mid-February, introducing critical developer tools and resources to ensure a seamless development experience. Following the devnet phase, the Movement Network plans to launch the Public Mainnet Beta, opening the network to full permissionless app deployment and user onboarding.