- Sun threw light on WBTC and asserted that it makes sure of increased security as well as autonomy for national Bitcoin reserves.
- The World Liberty Financial of Donald Trump widened its crypto portfolio even after the President took charge at the White House on January 20.
- On January 22, the DeFi project bought 94.94 wrapped Bitcoin (WBTC) estimated at about $9.84 million in the last hour.
The founder of a decentralized blockchain, TRON, Justin Sun has recently revealed the insights from the Defi project of Donald Trump, World Liberty Financials. On January 23, the project bought around $10 million worth of WBTC at the time of the price dip.
Talking about Coinbase Wrapped BTC (CBBTC), Sun revealed why Trump picked WBTC. Sun recently posted on X throwing light on the significance of actual ownership in blockchain infrastructure mentioning, Not your keys, not your coins.
The criticism by Justin Sun
Sun also criticized the lack of a Proof of Reserves system at Coinbase and argued that the reliability of these kinds of platforms uncovering assets to risks of freezing or impounding at the discretion of officials.
In his X post, he specifically mentioned the reliability of Coinbase’s o Proof of Reserves (PoR) product signifies your Bitcoin could be frozen or impounded anytime. It is completely at the mercy of Paul Grewal, the chief legal officer of Coinbase. But if he does not? Game over.”
Sun threw light on WBTC and asserted that it makes sure of increased security as well as autonomy for national Bitcoin reserves. He also elaborates on the investment of Trump in WBTC as a strategic step to place decentralization and protect against external control.
Another post of Sun on X mentions that WBTC is now the national Bitcoin reserve of the United States in the name. Is there any president other than Donald Trump who attentively buys Bitcoin daily? Trump is the sole Bitcoin President.
Widening of crypto portfolio
The World Liberty Financial of Donald Trump widened its crypto portfolio even after the President took charge at the White House on January 20. On January 22, the DeFi project bought 94.94 wrapped Bitcoin (WBTC) estimated at about $9.84 million in the last hour.
This acquisition is because of a wider investment strategy by the fund in the past three days. The acquisition also happened a day after Trump’s great investment in Justin Sun’s Tron TRX crypto.
In the same period, World Liberty Financial accumulated around $56.82 million to purchase 534.1 WBTC at an average price of $106,379 per token. The estimation of this investment has since gone down by $1.74 million, showing a 3% slump.
Concluding all this, the fund has put $178.2 million in the last three days over six key tokens including, Ethereum (ETH), wrapped Bitcoin (WBTC), Tron (TRX), Aave (AAVE), Chainlink (LINK) and ENA.
