Justin Sun’s Tron Buys $30 Million of Trump’s WLFI Tokens

November 26, 2024
TRON is now the largest investor in World Liberty Financial

Justin Sun’s Tron is now the largest investor in Donald Trump’s DeFi project, World Liberty Financial.

Background

  • Sun bought $30 million worth of WLFI tokens
  • The project was launched pre-election
  • However, token sales were restricted to non-US users and US-accredited investors
  • Alongside, the tokens were non-transferable, opening the doors for skepticism
  • Trump is the project’s ‘Chief Crypto Advocate’
  • Meanwhile, his sons, Eric, Barron, and Donald Trump Jr. are ‘Web3 ambassadors’

Why should you pay attention?

  • WLFI token sales have been withered since launch
  • The project set a target of selling $300 million worth of tokens
  • However, it managed to sell only $21 million worth WLFI before Sun's purchase
  • The latest investment injection could help change the trajectory of the token
  • The “gold paper” [white paper] chalked out that Trump’s company would profit once the sale proceeds exceeded $30 million
  • Given that the said threshold has now been surpassed, the President-elect’s company, DT Marks DEFI LLC, is entitled to 75% of the net revenue fetched

Who said what?

  • In a post on X [formerly Twitter], Sun emphasized,

“The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump!”

  • Notably, BTC's price has been soaring since Trump was re-elected as President by the Americans
  • Commenting on the latest development, World Liberty Financial’s co-founder Zak Folkman said,

“This sizable purchase of WLF tokens underscores the early success of this project”

  • He added,

“There have been several significant purchases in recent weeks, and we are confident in our future success as we build a platform that promotes freer and fairer finance”

Zooming out

  • The WLFI team expects “more such developments” to shape up “in the coming weeks and months”
  • Meanwhile, Sun emphasized that Tron is committed to “making America great again” and “leading innovation”
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