Oct Logo
Search Icon
Oct Logo
Search Icon
Bitcoin iconETH
$0000
arrow icon0.61%
Justin Sun Invests $30M in Trump’s Crypto Venture

Justin Sun Invests $30M in Trump’s Crypto Venture

Justin Sun, the founder of Tron, has made a significant investment in Donald Trump’s crypto venture, World Liberty Financial (WLF).

Image of Sahil ThakurSahil ThakurNews

Nov 26, 2024

Written By Sahil Thakur

Author: Sahil Thakur

Written On: Tue, 26 Nov 2024 07:04:29 GMT

Justin Sun, the founder of Tron, has made a significant investment in Donald Trump’s crypto venture, World Liberty Financial (WLF). With this $30 million purchase of tokens, Sun becomes the largest investor in the project.

  • Token Purchase: Sun acquired 2 billion WLF tokens at $0.015 each through his HTX-linked wallet.
  • Fundraising Status: WLF has raised $52 million so far, still below its $300 million target.
  • Revenue Milestone: Trump’s DT Marks DEFI LLC now earns 75% of WLF’s net revenue after surpassing $30 million in sales.

World Liberty Financial’s Journey

WLF launched in October and aims to establish itself as a prominent player in decentralized finance. The project promotes “freer and fairer finance,” aligning with Donald Trump’s campaign promises to make the U.S. the crypto capital. Trump serves as chief crypto advocate, while his sons act as Web3 ambassadors.

Initially, the project restricted access to accredited U.S. investors and non-U.S. persons. However, WLF plans to expand access to all Americans. Co-founder Zak Folkman expressed optimism, stating, “This sizable purchase of WLF tokens underscores the early success of this project.”

Justin Sun’s Involvement

Sun has consistently supported blockchain innovation and aligned his vision with pro-crypto initiatives. He tweeted, “TRON is committed to making America great again and leading innovation.” However, his actions come amid ongoing challenges. Sun faces a lawsuit from the SEC for allegedly selling unregistered securities and engaging in wash trading.

Market Impact

WLF tokens remain nontransferable, which has deterred some investors. Yet, Sun’s involvement has brought new attention to the project. This partnership highlights a growing focus on blockchain in the U.S. regulatory and financial landscape.

Looking Ahead

While WLF faces obstacles, this investment reflects its potential in reshaping decentralized finance. Both Sun and Trump have shown strong ambitions to drive blockchain adoption.

Trusted

Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.

In this article

World Liberty Financial’s Journey

Justin Sun’s Involvement

Market Impact

Looking Ahead

Hero Image
Share with your community!
FacebookXLinkedIn
Fetching related reads...
Hero Image
Share with your community!
FacebookXLinkedIn
Fetching related reads...

Fetching related reads