Tron founder Justin Sun announced that his firm bought $30 million worth of World Liberty Financial tokens, the crypto project supported by President-elect Donald Trump.
"We are thrilled to invest $30 million in World Liberty Financial as its largest investor. The U.S. is becoming the blockchain hub, and bitcoin owes it to Donald Trump," Sun posted to X. "Tron is committed to making America great again and leading innovation."
The purchase in World Liberty Financial comes after both the project launched to lackluster results and Trump was elected U.S. president earlier this month. Some potential buyers of WLFI tokens may have balked at the fact that DT Marks DEFI LLC, which is connected to the Trump family, has a right to receive 75% of the net protocol revenues and $337.5 million in WLFI tokens at the token sale price, according to the project's "gold paper."
Sun's mention that "bitcoin owes it to Trump" is mostly likely a reference to the fact that BTC's price has risen precipitously since the billionaire real-estate tycoon was reelected U.S. president. Trump positioned himself as crypto-friendly in the run-up to the Nov. 5 election.
“We’re excited about the momentum experienced by World Liberty Financial, and this sizable purchase of WLF tokens underscores the early success of this project," Zak Folkman, co-founder of World Liberty Financial said in a statement. "Indeed, there have been a number of similarly significant purchases in recent weeks, and we are confident about future success and building out something that helps to make finance freer and fairer. We expect more such developments to happen in the coming weeks and months.”
Last month, Sun was elected prime minister of Liberland, a self-proclaimed micronation wedged between Croatia and Serbia which has adopted bitcoin as its official currency.
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