Justin Sun has acquired $30 million worth of tokens from Donald Trump’s World Liberty Financial, establishing himself as the project’s largest investor to date.
Justin Sun, the founder of the Tron blockchain, has become the largest investor in Donald Trump’s crypto initiative, World Liberty Financial, by purchasing $30 million worth of its tokens.
'We are thrilled to invest $30 million in World Liberty Financial as its largest investor,' Sun announced in a Nov. 25 post on X. 'TRON is dedicated to fostering innovation and contributing to making America great again.'
Prior to Sun’s statement, a wallet identified by Etherscan as belonging to the Sun-controlled crypto exchange HTX (formerly Huobi) was observed acquiring 2 billion World Liberty Financial (WLFI) tokens at a price of $0.015 each.
"WLFI token sales have struggled since launching in mid-October, hindered by restrictions limiting sales to non-U.S. persons and U.S.-accredited investors, as well as making the tokens nontransferable — preventing resale.
Before Justin Sun's $30 million purchase, only $20 million worth of WLFI tokens had been sold. Sun’s investment brought total sales to $52 million, still far short of the project’s ambitious $300 million target.
However, the investment triggers a major milestone for the Trump family. According to the project’s 'gold paper' (its version of a white paper), Trump’s company, DT Marks DEFI LLC, is entitled to 75% of net revenues after the project generates $30 million — a threshold it has now reached.
'This sizable purchase of WLF tokens underscores the early success of this project,' said Zak Folkman, World Liberty Financial’s co-founder, in a statement to Cointelegraph. '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.'
Donald Trump is listed as the platform’s 'chief crypto advocate,' with his sons Eric, Barron, and Donald Trump Jr. serving as 'Web3 ambassadors.' The incoming president has pledged to make the U.S. the global 'crypto capital' and scale back regulatory oversight of the industry.