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Cryptocurrency News Articles

Justin Sun Invests $30 Million in World Liberty Financial, a Decentralized Finance Project Backed by Donald Trump

Nov 26, 2024 at 04:30 am

The Tron (TRX) founder Justin Sun announced his investment on Nov. 25, becoming the largest backer of World Liberty Financial.

Justin Sun Invests $30 Million in World Liberty Financial, a Decentralized Finance Project Backed by Donald Trump

Justin Sun, the founder of Tron (TRX), has announced an investment of $30 million in World Liberty Financial, a decentralized finance (DeFi) project backed by former U.S. President Donald Trump.

Sun, who is known for his involvement in the crypto industry, revealed his investment on Nov. 25. The DeFi project, which recently concluded its WLFI token sale in October, confirmed Sun's substantial contribution.

In a post on X, Sun expressed his enthusiasm for the project and its alignment with his vision for the crypto and blockchain landscape in the U.S.

“We are thrilled to invest $30 million in World Liberty Financial as its largest investor,” Sun stated. “The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump! TRON is committed to making America great again and leading innovation. Let's go!”

The project garnered significant attention, particularly due to Donald Trump's involvement, which further elevated its profile within the new ecosystem. However, the DeFi project encountered a relatively slower pace in terms of overall investment by eligible projects.

After launching the initiative, it took over a month to reach the milestone of 20,000 participants. The platform announced the achievement of 20,000 WLFI token holders on Nov. 18, which came two weeks after Trump's victory in the 2024 U.S. election sparked a crypto rally.

Bitcoin (BTC) surged to levels approaching $100,000 during the election period and, despite a subsequent pullback, maintained a largely bullish trend.

World Liberty Financial also confirmed Sun's investment via X, with the team expressing their gratitude and highlighting their shared vision for the future of blockchain technology.

“Together, we're driving innovation, aligning on a vision for a stronger blockchain future, and contributing to the growing ecosystem,” the statement reads.

The DeFi project unveiled sales for its WLFI token in September, opening the opportunity to non-U.S. investors and also making it available to qualified U.S. investors.

Sun's substantial purchase of WLFI pushes the project's sales well past the $30 million threshold, which will see a Trump company receive a portion of the sale proceeds.

News source:crypto.news

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