Justin Sun Becomes Largest Stakeholder in Trump-Backed Crypto Project with $30 Million Investment
Justin Sun’s $30M investment makes him the largest stakeholder in Trump-backed WLFI, boosting DeFi growth.
WLFI’s token sale struggles are overcome with Sun’s investment, pushing it closer to its $300M target.Trump’s family strengthens crypto presence with WLFI, while Sun aims to expand blockchain adoption globally.
The CEO of the TRON blockchain platform, Justin Sun, has invested in the WLFI cryptocurrency project. Sun invested $30 million. This has made him the largest shareholder in the new firm.
This move comes as WLFI, a decentralized finance (DeFi) platform, struggled with slow token sales since its launch.
TRON Becomes the Largest Stakeholder in WLFIThe investment was made through a wallet linked to Sun’s HTX exchange, formerly known as Huobi. Prior to the investment, WLFI had aimed to sell $300 million worth of tokens but had only managed to sell $21 million.
Sun’s $30 million purchase now brings the total sales to $52 million, though still far from the $300 million target. With this acquisition, Sun is now the biggest backer of WLFI, marking a key turning point for the platform.
A Crucial Investment for WLFI’s FutureWLFI, introduced in September 2024, has faced several hurdles, including slow adoption rates. The project offers decentralized lending and borrowing services, supported by its governance token, WLFI.
The investment from Sun is seen as a boost, helping the project surpass the $30 million threshold required for DT Marks DEFI LLC, an entity affiliated with Donald Trump, to start receiving revenue from the token sales.
According to WLFI’s gold paper, Trump’s affiliated company will receive 75% of the project’s net revenues after the $30 million mark is reached.
Additionally, 337.5 million WLFI tokens are allocated to Trump’s company, further solidifying his involvement in the project.
