cryptonewsz.com
The founder of TRON blockchain, Justin Sun shared a big announcement from his X handle, revealing his plan to invest $30 million in World Liberty Financial (WLFI), the decentralized finance (DeFi) platform sponsored by an upcoming U.S. president Donald Trump. The announcement makes Sun’s TRON blockchain the project’s largest backer.
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. Let’s go! pic.twitter.com/cISTsVYP1f
— H.E. Justin Sun 🍌 (@justinsuntron) November 25, 2024
After Trump’s intense election campaign to woo crypto voters, his victory has now encouraged investors to trade their favorite cryptocurrencies freely.
World Liberty Financial launched in September 2024 with high ambitions but faced slow momentum. The platform aims to provide decentralized lending and borrowing services, governed by its native WLFI token.
However, there is a restrictive purchase rule that only allows accredited U.S. investors and non-U.S. buyers, which are non-transferable. These restrictions hindered initial sales.
Despite a $300 million target, WLFI has raised just $21 million before Sun’s intervention.
On November 25, Etherscan data linked $30 million worth of WLFI tokens to a Wallet associated with HTX, which is a Seychelles-based cryptocurrency exchange.
The strategic investment does more than stablize World Liberty Financial as it opens a door for profit steam from Trump’s crypto move. According to the WLFI “gold paper”, proceeds beyond $30 million benefit the project. Sun’s injection of funds finally surpasses this threshold, creating a win-win situation for both TRON and Trump.
Justin Sun is one of its esteemed guest speakers for the Global Blockchain Show hosted by VAP Group. On December 12 and 13, 2024, Justin Sun will join over 3,000 Web3 Founders, more than 100 speakers, and over 100 investors for a two-day festival at the Grand Hyatt Exhibition Centre in Dubai.