Justin Sun, the founder of the Tron blockchain, just became the largest investor in Donald Trump’s cryptocurrency effort, World Liberty Financial. Sun’s $30 million token acquisition demonstrates his conviction in the project’s ability to transform decentralized finance.
Sun expressed enthusiasm about his investment on social media, saying, “TRON is committed to making America great again and leading innovation.” The transaction involves the purchase of 2 billion World Liberty Financial (WLFI) tokens at a price of $0.015 each.
Since its inception in October, the project has faced challenges, including prohibitions on non-accredited investors headquartered in the United States and nontransferable tokens. However, Sun’s investment has increased sales, bringing total revenue to $52 million—still a far way from the $300 million plan.
We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go! pic.twitter.com/cISTsVYP1f
— H.E. Justin Sun 🍌 (@justinsuntron) November 25, 2024
According to World Liberty Financial’s “gold paper,” Donald Trump’s company, DT Marks DEFI LLC, will earn 75% of net revenues once it reaches $30 million in sales. The presence of Trump and his family, including his sons Eric, Barron, and Donald Trump Jr., has been a crucial promotional force, with the former president touting the United States as a worldwide crypto powerhouse during his campaign.
Despite this development, the project is still controversial. Sun’s relationship with authorities, which includes ongoing litigation by the United States Securities and Exchange Commission (SEC), has aroused concerns. The SEC accuses Sun of selling unregistered securities and manipulating market prices, which he denies.
Meanwhile, Trump’s enterprise continues to promote its vision of democratized finance. Positioned as a key step forward in the DeFi movement, World Liberty Financial aims to eliminate traditional financial middlemen. However, its offshore marketing strategy demonstrates difficulties in skirting US restrictions.
The relationship between Trump and Sun highlights the changing world of blockchain innovation, political activism, and decentralized financing. While worries about the project’s long-term viability remain, its high-profile backers indicate that it will continue to be a topic of discussion in the cryptocurrency sector.
In related news, the price of Tron’s native token, TRX, fell 5% to $0.20 on Monday but is still up 87% year to date. As Sun and Trump continue to make aggressive advances in the cryptocurrency business, their collaboration marks a new chapter in blockchain’s incorporation into mainstream banking.
