Trons Justin Sun Secures Position as Biggest Investor in Donald Trumps Crypto Project
Justin Sun seems to be seizing every opportunity that crosses his path, with his latest move making waves in the industry.
The founder of the Tron blockchain has become the largest investor in Donald Trumps World Liberty Financial, investing $30 million in the projects token.
Justin Suns Bold $30M Bet
On November 26th, Sun took to X and announced that he had purchased $30 million worth of its token.
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. Lets go!
Suns latest investment comes days after he revealed paying $6.2 million when he won Sothebys auction of the infamous banana, titled Comedian, created by Italian artist and cultural prankster Maurizio Cattelan.
Meanwhile, a World Liberty Financial spokesperson said that there have been several significant purchases in recent weeks and added that they expect more such developments to happen in the coming weeks and months. Confirming Suns purchase, the team behind the project tweeted,
Were honored to have the support of @justinsuntron and @trondao! Together, were driving innovation, aligning on a vision for a stronger blockchain future, and contributing to the growing ecosystem. Exciting times ahead!
World Liberty Financial
Trump announced the launch of World Liberty Financial in September. The project seeks to make financial services more accessible by eliminating intermediaries. Initially aiming to raise $300 million with a $1.5 billion valuation, the company has shifted focus primarily to offshore markets.
A filing with US regulators states that only $30 million in tokens will be sold domestically, and the offering will end once this threshold is met, despite leaving $288.5 million of tokens for global sale.
World Liberty Financials website states that despite Trumps endorsement, neither he nor his family nor the Trump Organization has any role in managing, owning, or operating the platform or its affiliates. World Liberty Financial solely offers the WLFI tokens.
It also states that Trumps affiliated entity, DT Marks DEFI LLC, is set to receive around 22.5 billion tokens and 75% of net protocol revenues under a services agreement. The project emphasizes that it is non-political and not tied to any political campaign.
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Text source: CryptoPotato
