Tron founder Justin Sun has invested $30 million in World Liberty Financial (WLFI), a DeFi platform backed by Donald Trump.
Despite Trump’s endorsement, the platform has struggled to attract investors, selling far fewer WLFI tokens than initially projected. However, Sun’s investment could potentially boost the project.
A much-needed boost for Trump’s World Liberty Financial (WLFI)?
World Liberty Financial launched its decentralized lending services in September 2024. The WLFI token drives the platform’s governance and was made available exclusively for sale to non-US or US accredited investors.
However, the token’s non-transferable nature and limited access contributed to slow sales. Prior to Sun’s investment, the project had raised just $21 million. That’s well short of its $300 million goal.
Tron’s founder confirmed the transaction yesterday (25). Data from Etherscan’s blockchain revealed that $30 million worth of WLFI tokens were purchased by Sun’s wallet associated with HTX (formerly Huobi).
The US is becoming the center of blockchain, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation, Justin Sun wrote on X (formerly Twitter).
The WLFI “gold paper” highlights that a portion of the proceeds from the token sale will go to a Donald Trump company.
However, that arrangement would only generate profits for Trump's company after it exceeded $30 million in sales, a milestone reached after Sun's investment.
World Liberty Financial is staffed by Donald Trump associates, cryptocurrency entrepreneurs, and financial experts. The president-elect himself and his three children support the platform, reinforcing its Trump-brand identity.
We are honored to have the support of @justinsuntron and @trondao! Together, we are driving innovation, aligning a vision for a stronger blockchain future, and contributing to the growing ecosystem. Exciting times ahead, WLFI wrote on X.
Justin Sun's involvement in World Liberty Financial
Meanwhile, Justin Sun’s involvement in World Liberty Financial marks yet another unconventional move in his portfolio. Last week, he paid $6.2 million for the viral artwork Comedian, a banana stuck to a wall with duct tape.
The purchase caused a domino effect in crypto markets, driving the price of the Banana Gun token up by 16%. The token, however, has no connection to art.
Earlier this year, Sun also moved his EIGEN tokens from the EigenLayer liquid restocking protocol to the HTX exchange. His bold investments continue to garner attention in both the art and crypto sectors.
The article Justin Sun Invests $30 Million in Trump-Backed WLFI appeared first on BeInCrypto.
