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Trump-Backed World Liberty Financial Buys $470K ONDO Tokens
The investment occurred as Ondo announced the introduction of its own blockchain for tokenized assets.
What to know:
- An address labelled as belonging to World Liberty Financial swapped $470,000 USDC for about 342,000 ONDO tokens.
- The investment occurred the same day Ondo announced the introduction of its own blockchain for tokenized assets.
A wallet identified as belonging to World Liberty Financial, the decentralized finance (DeFi) platform backed by President Donald Trump and his family, has deepened its investment in Ondo Finance, the second-largest issuer of tokenized Treasuries.
The address scooped up about 342,000 ONDO, the platform's governance token, for $470,000 USDC on the CoW Protocol, according to data from Arkham Intelligence. It first bought ONDO two months ago, worth $245,000 at the time, before sending the tokens to Coinbase Prime earlier this week.
STORY CONTINUES BELOW
The transaction happened as Ondo today announced that it will introduce its own layer-1 blockchain designed for tokenized assets.
ONDO is trading at $1.298, down 3.7% in the last 24 hours amid a wider market downturn that has seen the CoinDesk 20 Index drop 3.1%.
Along with ONDO, the Trump family-backed DeFi project has also been accumulating TRX and wrapped Bitcoin (WBTC).
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
