• World Liberty Financial purchased approximately $2 million worth of MOVE tokens, making it the project's tenth-largest holding.
  • Tron founder Justin Sun increased his investment in WLFI from $30 million to $75 million last week.

World Liberty Financial, the Trump-backed DeFi platform, has acquired approximately $2 million worth of MOVE tokens, making it the project's tenth-largest holding. The purchases coincided with Movement Labs unveiling a new developer program and community funding initiative on Tuesday.

Movement Labs is reportedly in discussions with the newly created Department of Government Efficiency (DOGE), according to DB newswire, though its founder, Rushi Manche, clarified that the organization has not been in direct contact with the agency. Manche emphasized that crypto remains in its early stages and that policy discussions are ongoing across the administration.

MOVE, an ERC-20 token with a 10 billion supply cap, surged nearly 15% following the announcement. The token is the native asset of the Movement blockchain, and World Liberty executed the purchases in structured transactions, swapping stablecoins through the CoW Swap decentralized exchange. These trades, often around $470,000 each, align with the project’s symbolic nod to Trump being the 47th president.

Last Monday, World Liberty executed a series of purchases worth $112.8 million on Trump’s first day in office. The project now holds approximately $389 million in cryptocurrencies, including assets like Chainlink’s LINK, Ethena’s ENA, and Aave’s AAVE. It has also accumulated nearly $10 million worth of Tron’s TRX token, with Tron founder Justin Sun increasing his WLFI investment from $30 million to $75 million last week.

World Liberty initially struggled to sell its WLFI tokens but announced before Trump’s inauguration that it had successfully sold 20% of its 100 billion token supply. Due to high demand, the project opened sales for an additional 5 billion tokens.

Meanwhile, Bloomberg reported that the cost-cutting DOGE initiative, led by Elon Musk, is evaluating blockchain technology for tracking government spending. The agency is reportedly in discussions with multiple public blockchain representatives.

Edited by Harshajit Sarmah