World Liberty Financial (WLFI) has been rapidly establishing itself as one of the dominant firms in the crypto sphere.
Its latest activity which includes staking Ethereum highlights the company’s push deeper into the DeFi segment.
World Liberty Financial almost becoming a household name in the crypto segment thanks to its close association with President Trump.
It has thus been on the spotlight with the market keeping close tabs on its activities.
WLFI has been aggressively accumulating ETH and recent reports revealed that it is staking a significant amount of its ETH holdings.
It reportedly swapped 2,221 ETH into stETH which it then staked on Lido Finance.
The staked ETH was worth over $5 million and it underscores the firm’s widening scope of involvement in the DeFi space.
The company’s decision to stake ETH reflects efforts beyond just holding crypto.
It has been working towards securing passive opportunities in the decentralized finance segment.
World Liberty Financial explores the Cross-Chain Ecosystem
WLFI has so far amassed a sizable digital asset portfolio which consists of 7 cryptocurrencies.
They include Ethereum, Chainlink, Ondo, AAVE, Coinbase Wrapped BTC, Ethena and Movement.
Ethereum constituted 92% of the company’s crypto holdings as of 14 February.
The bulk of WLFI holdings were purchased within the last 2 months. This also puts into perspective pace at which the firm has been growing.
World Liberty Financial held ETH worth roughly $212 million press time which means it held over 78,000 ETH.
The presence of wrapped coins reveals that the firm is determined to seek out opportunities across multiple blockchains.
WLFI has also recently purchased about 5 million USDC worth of WBTC. The latter is predominantly used in the Ethereum since it is an ERC-20 token.
This means the company is actively seeking out more exposure within the Ethereum ecosystem.
The company also reportedly sent 5 million USDC to the AAVE V3 protocol where it will be used for lending.
This is unsurprising because borrowing and lending make up a substantial part of World Liberty Financial’s scope of crypto-related operations.
This rapid expansion into DeFi is also a part of the company’s plan to deep roots supporting its WLFI token which is still in its presale phase.
It could be part of WLFI’s recently launched Macro Strategy initiative which it described as the upcoming token’s backbone.
Strategic Partnerships
The company revealed through the announcement that it intends to seek out strategic partnerships in traditional finance through the new initiative.
Meanwhile, the Trump-related organization’s crypto purchases have also been boosting market confidence.
Its latest crypto purchases have occurred just as most top cryptocurrencies including Ethereum have been significantly discounted over the last few weeks.
The timing of the purchase suggests that World Liberty Financial is buying crypto with the expectation of bullish activity in the coming months.
Analysts have also taken note of the aggressive ETH purchases. WLFI is not the only U.S-based investment company that has been scooping up ETH with haste.
Blackrock has also been at the forefront of an aggressive ETH buying spree, raising questions as to what whether this could signal bullish times ahead.
