Most recently a blockchain analysis firm reported that a wallet allegedly linked to Justin Sun, one of the youngest crypto billionaires, has bought 2 million WLFI tokens at an average price of $0.015 each. The total invested amount is around $30 million.
Following this acquisition Sun has got the position in the list of highest funds poured into the World Liberty Finance of Donald Trump.
In an X post Sun quoted that ” Tron is committed to making Americans great again and leading innovation.” After the acquisition by him, the total sale of WLFI tokens has reached $52 billion, quite far from the target of $300 million.
As per finance experts, World Liberty Finance has gained traction due to its association with Trump the newly elected president of the United States. Despite Sun’s recent investment in World Liberty Finance TRX prices fell over 10 percent in the past 24 hours reaching $0.1885.
It is crucial to note that the market capitalization of TRX has seen a staggering decline of 10.25 percent intraday reaching $16.27 billion.
Celebrity endorsements in cryptocurrency are becoming an increasingly popular trend, with the latest example being World Liberty Financial’s association with Donald Trump.
While the Trump name is sure to draw significant attention, it also brings heightened scrutiny. The success or failure of this project could shape how other celebrity-backed crypto ventures are perceived by both the crypto community and regulatory authorities.
Will World Liberty Finance Lead the Crypto Sector?
During its initial launch, World Liberty, a Wilmington, Delaware-based project, aimed to raise $300 million with a valuation of $1.5 billion. However, the company recently revealed that its $300 million token offering is being predominantly marketed to offshore investors.
Donald Trump has recently emerged as a vocal supporter of digital assets such as Bitcoin.
According to Bloomberg News, Trump Media & Technology Group Corp. is reportedly in discussions to acquire the digital-asset marketplace Bakkt Holdings Inc. The information comes from sources familiar with the matter, who requested anonymity due to the private nature of the talks.
An SEC filing dated October 30 revealed that World Liberty Financial significantly scaled back its plans, reducing its token sale target to $30 million before pausing the offering a sharp decrease from its initial $300 million goal.
In addition, World Liberty Financial has recently formed a partnership with Chainlink to integrate its standards into the WLFI platform. This collaboration aims to enhance cross-chain connectivity within the DeFi ecosystem, driving towards mass adoption.
World Liberty Financial aims to transform traditional banking by providing a decentralized platform for borrowing, lending, and cryptocurrency investments. The project has launched its token, WLFI, alongside a stablecoin pegged to the U.S. dollar.
World Liberty Financial has raised $14 million to develop and launch its US dollar-pegged token. The project is now working on implementing measures to ensure the product’s safety and security before its market release.
In the past 24 hours the cryptocurrency market capitalization has lost 5.4 percent reaching $ 3.24 trillion at the same time Bitcoin lost around 6.21 percent reaching below the mark of $93k.
