Trump promises ‘something great with crypto’ as World Liberty buys the dip

After ringing the bell at the New York Stock Exchange (NYSE) today, Donald Trump, the United States president-elect and famous felon, announced that he “will be doing something great with crypto.”

This was in response to a question from Jim Cramer that seemed to allude to a “strategic bitcoin reserve.” Trump has previously promised to create a “strategic national bitcoin stockpile.”

Elsewhere yesterday, World Liberty Financial, a crypto project endorsed by Trump that describes him as the “Chief Crypto Advocate,” has been diversifying the assets in its multisignature wallet, apparently exchanging USDC for ether, LINK, and AAVE.

The protocol itself intends to exist as an AAVE wrapper and it has already partnered with Chainlink.

Read more: Justin Sun buys more of Trump’s WLFI than it planned to sell

Interestingly, this change in the composition of the multisignature wallet was not discussed on the governance forum and was not voted on by tokenholders. This token was explicitly marketed as a “governance token.”

The firm has sold approximately 4.45 billion tokens, with nearly half of them going to Justin Sun, a crypto entrepreneur and the target of a SEC lawsuit that alleges he participated in unlawful promotion of securities and price manipulation.

Additionally, over 22 billion tokens — that’s five times the number that has been sold to the public — went to a Trump-affiliated firm. 

This firm also receives 75% of protocol revenue, despite the fact that Trump and his children are very explicitly not directors or employees of this firm.

Trump’s wife Melania, another cryptocurrency entrepreneur whose team has been accused of wash-trading her NFT collection, rang the NYSE bell several years ago.

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