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Justin Sun Invests $30 Million in Trump’s Crypto Project

source-logo  cryptodnes.bg 26 November 2024 05:00, UTC

Justin Sun, the founder of Tron, has committed a substantial $30 million investment into World Liberty Financial (WLF), a decentralized finance (DeFi) initiative spearheaded by President-elect Donald Trump.

This investment marks Sun as the largest backer of the project, which is centered around blockchain and cryptocurrency innovation.

Sun expressed his belief that the U.S. is positioning itself as the blockchain hub, attributing part of this momentum to Trump’s leadership. Sun emphasized that TRON is dedicated to supporting the U.S. in fostering innovation. World Liberty Financial also celebrated Sun’s involvement, noting their excitement to have his support.

WLF, which is championed by Donald Trump and his family, aims to leverage blockchain technology within the DeFi sector. Trump is listed as the chief crypto advocate of the platform, with his sons, Eric, Donald Jr., and Barron, acting as ambassadors for its Web3 initiatives.

Initially, the Wilmington, Delaware-based project sought to raise $300 million, with a $1.5 billion valuation. However, most of the token offering is being marketed internationally, while Sun’s investment represents the largest domestic contribution to date.

Currently, only accredited U.S. investors—those meeting specific income or net worth thresholds—can participate in the platform, although WLF is open to global investors. The project envisions broadening its accessibility to all Americans in the future, aiming to provide equal opportunities in the blockchain space. Despite a limited U.S. rollout, World Liberty Financial had already attracted $11.5 million in initial inflows by October.

cryptodnes.bg