World Liberty Financial, a decentralized finance (DeFi) project backed by President-elect Donald Trump, has attracted significant attention following a $30 million investment by crypto entrepreneur Justin Sun. Sun’s investment makes him the largest investor in the blockchain-focused initiative, which aims to democratize access to financial services.
Sun, founder of Tron, announced his investment and praised the U.S. for its role in blockchain innovation. He aligns his firm’s ambitions with Trump’s DeFi vision. World Liberty Financial seeks to raise $300 million at a valuation of $1.5 billion, with only $30 million of tokens being marketed in the U.S.
The project, promoted by the Trump family as web3 ambassadors, aims to remove intermediaries to make financial services more accessible. Justin Sun’s investment has sparked debate due to his controversial reputation in the cryptocurrency world. In 2023, the U.S. SEC sued Sun, accusing him of securities violations, fraud, and market manipulation.
Despite these legal challenges, Sun remains undeterred, positioning himself as a leader in blockchain innovation. Once skeptical of cryptocurrencies, Trump has recently become a vocal advocate for digital assets and blockchain technology. World Liberty Financial’s trajectory comes at a crucial moment for the DeFi sector, as it represents the growing mainstream appeal of blockchain technology.
Regulatory hurdles and legal challenges remain for the project, but with high-profile endorsements, it is set to leave a lasting impact on the blockchain landscape.
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<p>The post Trump-Backed DeFi Project Secures $30M Investment from Controversial Crypto Entrepreneur Justin Sun first appeared on CoinBuzzFeed.</p>