On-chain data reveals that Tom Lee’s BitMine and Donald Trump’s World Liberty Financial (WLFI) have been busily stacking Ethereum like it’s the last loaf of bread in the apocalypse. Amid Ethereum’s recent price dive, these two entities spent nearly $140 million hoovering up ETH, doubling down on their bet with the enthusiasm of a caffeinated squirrel on a trampoline.
According to Lookonchain, BitMine bought 106,485 ETH ($470.51 million) on August 15, just as Ethereum was plummeting from its 2025 high of $4,500. Meanwhile, WLFI-Donald Trump’s financial arm-snagged 1,911 ETH ($8.6 million) during the same period. BitMine now holds 1.3 million ETH ($5.75 billion), which is enough to buy the entire supply of sarcasm on the internet… twice.
Not to be outdone, BitMine earlier purchased 28,649 ETH ($129.88 million) via Galaxy Digital’s OTC desk. Two days prior, it splurged another $158.47 million in ETH. If Tom Lee’s company keeps this up, it’ll own 5% of Ethereum’s total supply by 2026-or at least enough to make the SEC blush.
SharpLink, currently second on the Ethereum treasury leaderboard, holds 728,800 ETH ($3.16 billion). BitMine, meanwhile, has filed a $20 billion stock offering, presumably to fund its mission to become the universe’s most boring cryptocurrency whale.
Donald Trump’s WLFI isn’t slacking either. Eric Trump, ever the financial oracle, recently urged everyone to “buy the dip” as if he’s the crypto equivalent of a motivational speaker with a golden retriever. In February, he claimed $2,800 was a “fantastic time to buy ETH,” despite Ethereum promptly doing a backflip off a cliff. Still, his advice has paid off: Ethereum’s up 66% over 90 days and 27% YTD, much to the confusion of everyone who thought it was a dead asset.
Other Whales Are Buying ETH
Beyond BitMine and WLFI, a “mysterious institution” has been quietly buying 92,899 ETH ($412 million) from Kraken, creating three new wallets like they’re opening Amazon accounts. Meanwhile, two fresh wallets withdrew 25,684 ETH ($114.3 million) from FalconX on August 17, just as ETH hit new lows. Clearly, someone’s playing a game of crypto chicken.
In a twist of cosmic irony, the Ethereum Foundation is selling 7,294 ETH ($33.25 million) while everyone else is buying. Perhaps they’re funding a vacation to a planet without blockchain influencers.
As of writing, Ethereum trades at $4,340, down 3% in 24 hours. Whether this is the calm before the storm or the storm before the calm remains to be seen. Either way, it’s a party-and you’re not invited. 🎉💸
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2025-08-18 20:13