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Just one day before President Donald Trump is set to unveil his crypto reserve plan at the White House Crypto Summit, his crypto venture, World Liberty Financial, has begun piling up significant amounts of Ether, the second-largest cryptocurrency by market cap, Wrapped Bitcoin, and other digital assets.
On-chain analysis revealed that World Liberty Financial expanded its holdings significantly, acquiring $10 million in Ether, $10 million in Wrapped Bitcoin, and $1.5 million in MOVE, the native token of the Movement Network blockchain.
On Thursday morning, Ether saw a nearly 4% increase, trading at $2,246 over the past 24 hours. The MOVE token surged by 21%, while Wrapped Bitcoin, which mirrors Bitcoin’s growth, rose by 2.8%.
Read more: What is Trump’s World Liberty Financial?
Trump is also a fan of Ether
It’s not just Bitcoin that has caught the attention of Trump and his family — they are also fans of Ether. Last month, Eric Trump, the President’s son, endorsed the world’s second-largest cryptocurrency on social media, stating, “In my opinion, it’s a great time to add $ETH.”
Recent data from Arkham Intelligence reveals a significant increase in World Liberty Financial’s Ether holdings, which surged from around 2,200 Ether on Monday to more than 7,000 Ether by Thursday.
All eyes on Trump’s crypto reserve plan
President Donald Trump is set to unveil plans for it at the White House Crypto Summit on Friday. His plan envisions a reserve comprising Bitcoin — often hailed as “digital gold” for its inflation-hedging properties — alongside Ether, XRP, Solana, and Cardano.
However, crypto leaders have criticized Trump’s idea, arguing that if a reserve is established, it should be exclusively Bitcoin-based. Commerce Secretary Howard Lutnick said Bitcoin would receive a “unique status” under Trump’s framework, while other cryptocurrencies would be regulated differently.
Coinbase (COIN-3.60%) CEO Brian Armstrong, Strategy (MSTR-1.77%) Executive Chairman Michael Saylor, Robinhood (HOOD-5.84%) CEO Vlad Tenev, and other industry leaders will attend the event.