Sources: Trump plans investments in Ethereum, Solana and Bitcoin blockchains

The family of US President Donald Trump is planning to launch several business projects based on Ethereum, Solana and Bitcoin, said Joseph Lubin, co-founder of Ethereum and founder of ConsenSys. About this writes RBC Crypto.

ConsenSys is one of the key companies in the Ethereum ecosystem. It develops infrastructure solutions, such as the popular MetaMask wallet and the Infura platform, that support decentralized applications (dApps). The company promotes the implementation of Ethereum-based solutions in business, finance and the public sector.

“As far as I know, the Trump family will create one or more large businesses on Ethereum. They will also work with other blockchains such as Bitcoin and Solana. The Trump administration will do what is beneficial for the United States <...> Perhaps in the future, Ethereum technologies will be used in government processes, just as Internet protocols are used now,” Lubin wrote.

World Liberty Financial

It is possible that the first such company will be a crypto project from the decentralized finance (DeFi) sector, World Liberty Financial (WLF), supported by Trump and his three sons. In October, the project announced the sale of WLFI governance tokens, available only to accredited investors. As of January 22, more than 60% of all tokens are held across multiple addresses, according to monitoring service Etherscan.

Although the project has not yet launched, blockchain addresses associated with it have begun to purchase various crypto assets. According to data from the Arkham service, which tracks transaction activity on various blockchains, by the end of November the WLF team had more than $55 million worth of cryptocurrencies, including ETH and stablecoins.

This coincided with the statement of the founder of one of the largest blockchain projects TRON by capitalization, Justin Sun, about investing $30 million in WLFI. At the same time, the Chinese businessman emphasized that the United States is becoming a blockchain hub thanks to Trump. It is noteworthy that the launch of the WLFI token sale in October was accompanied by Trump’s words that the United States should become the largest crypto hub in the world: “If we don’t do it, China will.”

In the days leading up to the US presidential inauguration on January 20, WLF made a series of larger purchases, which increased the total balance in the project’s addresses by $300 million. According to Arkham, there are more than $326 million in WLF addresses, including $215 million in ETH and the liquid staking token stETH. almost $50 million in the wrapped version of Bitcoin WBTC, about $25 million in TRX, AAVE, LINK and ENA, as well as more than $60 million in stablecoins USDC and USDT and other cryptocurrencies.

“As an ardent supporter of blockchain technology and cryptocurrency innovation, I am pleased to see World Liberty Financial integrating TRON as a key part of its growing treasury,” Sun told Coindesk, once again noting that thanks to the efforts of the project and the Trump administration, the US will become a global crypto center.

The Ethereum investment was the largest known cryptocurrency investment by WLF as of January 22.

Changes in Ethereum

Active purchases of Ethereum and tokens based on it coincided with global changes in the Ethereum Foundation (EF), which is behind the development of Ethereum. Lubin, commenting on possible changes in the work of the fund, noted that the crypto industry is in a completely different position than before, which requires a completely different EF approach to its work.

Eric Trump later wrote in X that he believes now is the best time to invest in the US. He called for investing in local markets, energy, technology and cryptocurrency. The next four years “are going to be amazing,” he added.

These purchases come after Trump’s team shocked the crypto market by successfully launching two memcoins in a row on the Solana blockchain. The OFFICIAL TRUMP (TRUMP) and Official Melania Meme (MELANIA) tokens became leaders in terms of growth rates and within 24 hours after their launch entered the list of the largest cryptocurrencies by capitalization.

However, the World Liberty Financial project on Ethereum is different from the memcoins launched on Solana, and is aimed more at the financial sector and organizations.

“The size and timing of these (Ethereum) purchases indicate preparation for a significant market change or platform upgrade,” said Presto Research analyst Min Jung. In his opinion, WLFI acts more like a fund than a DeFi protocol.

Lubin clarified that these purchases are related exclusively to private business and have no relation to government initiatives or possible US plans to form a cryptocurrency reserve. He also expressed the idea that in the future, Ethereum technology will be used in government activities in the same way that they use the Internet for their applications and services.

Despite the differing opinions of cryptocurrency representatives on the preferred blockchain platform, neither Trump nor his team has singled out any project.

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Source: Cryptocurrency

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