Tron founder Justin Sun has announced a $30 million investment into President-elect Donald Trump’s World Liberty Financial crypto project.
Trump’s World Liberty Financial aims to be a digital asset bank that encourages customers to lend, borrow, and invest in digital tokens. The platform’s native token is the WLFI token.
Justin Sun’s Big Investment
The investment makes Sun the largest investor in Donald Trump’s decentralized finance (DeFi) project. Sun recently made headlines after spending $6.2 million at a Sotheby’s auction for a banana duct-taped to a wall. The Tron founder announced the news in a post on X, stating,
“We are thrilled to invest $30 million in World Liberty Financial as its largest investor. The US is becoming a blockchain and Bitcoin hub and owes it to Donald Trump. Tron is committed to making America great again and leading innovation.”
Trump and his sons are promoting World Liberty Financial as part of the decentralized finance (DeFi) movement. The President-elect is listed as the project’s chief crypto advocate, with his sons, Eric Donald Jr. and Barron Trump, named its Web3 ambassadors. The project aimed to raise $300 million at launch at a $1.5 billion valuation. However, the company disclosed its $300 million offering was marketed offshore. Sun’s investment is the largest so far and comes from on-shore. The project thanked Sun for his investment, stating,
“We’re honored to have the support of @justinsuntron and @trondao. Together we’re driving innovation, aligning on a vision for a stronger blockchain future, and contributing to the growing ecosystem.”
Currently, only accredited investors in the US can access the platform. According to Securities and Exchange Commission guidelines, accredited investors must have a net worth of $1 million or an annual income of $200,000 individually or $300,000 with a spouse. While US access is limited, the project is open to all non-US individuals. However, the project intends to expand access to all Americans soon.
“We envision a future in which all Americans can make use of this venue and have equal access to tools and opportunities.”
Growing Investor Interest
President-elect Donald Trump has licensed his name and promotional considerations to the venture through an LLC and does not assume liability. The LLC has received billions of tokens and the right to 75% of all revenues above a $30 million threshold. Before Sun’s investment in the project, $21 million worth of WLFI tokens were sold. Following the investment, $51 million worth of the token had been sold. Following the increase, sales crossed the $30 million threshold, triggering revenue distribution to Trump’s LLC.
World Liberty Financial co-founder Zachary Folkman stated that over 100,000 individuals are on the whitelist to invest in the token. However, only 20,400 unique wallet addresses hold the token according to data from Etherscan, only 20% of the people registered. Folkman stated,
“There have been several similarly significant purchases in recent weeks, and we are confident about future success and building out something that helps make finance freer and fairer. We expect more such developments to happen in the coming weeks and months.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
