World Liberty Financial Increases Investment in Ondo Finance
A wallet linked to World Liberty Financial, a decentralized finance (DeFi) platform associated with former President Donald Trump and his family, has significantly bolstered its investment in Ondo Finance, which stands as the second-largest issuer of tokenized Treasuries. Recent data from Arkham Intelligence reveals that this wallet acquired approximately 342,000 ONDO, the governance token of the platform, for around $470,000 USDC via the CoW Protocol.
This investment follows an earlier purchase made two months ago, where the wallet initially bought ONDO tokens valued at $245,000. Notably, these tokens were transferred to Coinbase Prime earlier this week, highlighting a strategic move by the Trump family-backed DeFi project.
In a timely announcement, Ondo Finance disclosed its plans to launch its own layer-1 blockchain, specifically designed for managing tokenized assets. This initiative marks a significant step forward in the platform’s evolution and ambitions within the DeFi space.
As of now, ONDO is trading at $1.298, reflecting a decline of 3.7% over the past 24 hours. This drop comes amid a broader market downturn, with the CoinDesk 20 Index experiencing a decline of 3.1%. In addition to its investment in ONDO, the Trump family-backed DeFi initiative has also been actively acquiring TRX and wrapped Bitcoin (WBTC), indicating a diverse investment strategy.
