Frax Finance Proposal to Invest $10 Million in Trump Family's DeFi Project WLFI

BlockBeats News, January 23rd, Decentralized stablecoin protocol Frax Finance initiated a proposal to invest in the Trump family's cryptocurrency project World Liberty Financial (WLFI). The initial investment is $5 million, with a possibility to add up to $10 million based on the collaboration. WLFI has already invested over $70 million in the DeFi sector, focusing mainly on US projects such as Aave, Chainlink, and Ethena. Frax's co-founder Stephen Moore, a former Trump economic advisor, aims to leverage this partnership to strengthen Frax's position in the US stablecoin market.