Announcing the deal on November 25, Sun declared, “We are thrilled to invest $30 million in World Liberty Financial as its largest investor
Cryptocurrency billionaire Justin Sun has made headlines once again with a $30 million investment in World Liberty Financial Inc (WLFI), a Web3 project spearheaded by the Trump family. This investment, announced on November 25, has propelled WLFI's fundraising total to $52 million.
The Trump family's involvement in WLFI is undeniable, with Donald Trump himself serving as the project's “Chief Crypto Advocate.” His sons, Eric, Donald Jr., and Barron, are also involved as “Web3 Ambassadors.” This venture aligns with Trump's campaign rhetoric, aiming to establish the U.S. as a hub for cryptocurrency innovation. During his presidency, Trump expressed interest in reducing regulatory burdens on the crypto industry, a stance that garnered mixed reactions from financial watchdogs and blockchain enthusiasts.
Significantly, this investment activates a revenue-sharing clause outlined in WLFI's “gold paper.” As the project has now crossed the $30 million sales threshold, Trump's company, DT Marks DEFI LLC, is set to receive 75% of WLFI's net revenue.
Sun, the founder of Tron (TRX), is known for his high-profile ventures and headline-grabbing tactics. In 2020, he made waves with a $4.5 million lunch with Warren Buffett. Sun's bold moves have consistently blurred the lines between innovation and controversy.
This latest investment raises eyebrows in light of Sun's ongoing legal battles with the U.S. Securities and Exchange Commission (SEC). In March 2023, the SEC accused Sun of engaging in unregistered securities sales and wash trading involving the Tron (TRX) token—charges that Sun has denied. The convergence of Sun's legal troubles and Trump's contentious relationship with U.S. regulators adds another layer of intrigue to this alliance.
The partnership between Sun and Trump highlights the increasing intersection of politics and blockchain technology. Trump's embrace of cryptocurrency marks a shift from his previous stance during his presidency, when he criticized Bitcoin and digital assets. It remains to be seen whether WLFI will emerge as a substantial player in the Web3 landscape or simply become another chapter in the crypto saga.
For Justin Sun, this investment presents an opportunity with potentially high rewards. If WLFI succeeds, Sun's involvement, despite his legal troubles, could bolster his image as a crypto kingmaker. As for Trump, the success of WLFI would not only enhance his post-presidency brand but also align with his broader narrative of economic revival and technological leadership.
As the crypto world watches this unexpected partnership unfold, the question arises: Is this a calculated play for innovation or merely another headline-driven spectacle?
