Justin Sun invests $30M in Trump crypto project

Justin Sun, founder of the Tron (CRYPTO:TRX) blockchain, has become the largest investor in Donald Trump’s cryptocurrency initiative, World Liberty Financial (CRYPTO:WLFI), purchasing $30 million worth of tokens.  

"We are thrilled to invest $30 million in World Liberty Financial as its largest investor. TRON is committed to making America great again and leading innovation," announced Justin Sun, founder of the TRON blockchain, on November 25. 

The purchase was confirmed via a wallet tagged by Etherscan as controlled by HTX, the Sun-linked crypto exchange formerly known as Huobi.  

The wallet acquired 2 billion WLFI tokens at $0.015 each, boosting total token sales to $52 million.  

This milestone allows Trump’s company, DT Marks DEFI LLC, to begin receiving 75% of net revenues, as outlined in the project’s “gold paper.”  

WLFI tokens have faced slow sales since their mid-October launch, hindered by restrictions limiting purchases to non-U.S. persons and accredited investors, as well as the tokens being nontransferable.  

"We are confident in our future success as we build a platform that promotes freer and fairer finance," stated World Liberty Financial co-founder Zak Folkman, highlighting the project's commitment to revolutionising the financial landscape.

Donald Trump is listed as the project’s “chief crypto advocate,” with his sons Eric, Barron, and Donald Trump Jr. serving as “Web3 ambassadors.”  

The project aligns with Trump’s campaign promises to position the U.S. as a global leader in cryptocurrency and reduce regulatory oversight.  

Meanwhile, Sun and Tron continue to face scrutiny from the U.S. Securities and Exchange Commission (SEC), which filed a lawsuit in March 2023 alleging unregistered securities sales and wash trading involving the TRX token, accusations that Sun has denied.  

At the time of reporting, the TRON (TRX) price was $0.1986.