Justin Sun’s $30M Investment in Donald Trump’s Crypto Initiative Raises Questions About Tron’s (TRX) Direction

Tron (TRX) slid 7% in 24 hours, trading at $0.1949, following founder Justin Sun's $30 million investment in Donald Trump's crypto initiative, World Liberty Financial (WLFI).

Cryptocurrency exchange Binance announced the listing of World Liberty Financial (WLFI) tokens on its platform. The tokens are available for trading against Bitcoin (BTC), Binance Coin (BNB), and stablecoin Tether (USDT) in the Spot and Margin trading sections.

Binance users can now deposit WLFI tokens in preparation for trading, while withdrawals will be enabled on Nov. 27 at 11:00 AM (UTC).

The WLFI token serves as a digital asset, legal only in specific jurisdictions, and is designed to provide exposure to a portion of the net revenues generated by World Liberty Financial. Notably, the tokens are available exclusively to non-U.S. persons and accredited investors.

As per the project’s “White paper,” 75% of net revenues are allocated to Trump’s company, DT Marks DEFI LLC, while the remaining 25% is distributed among World Liberty Financial, LLC, and its partners.

The project aims to generate revenue through a range of activities, including licensing intellectual property, consulting services, and technology integration. Moreover, World Liberty Financial is exploring opportunities in the metaverse, Web3, and artificial intelligence (AI) sectors.

The WLFI token price stood at $0.014 at the time of the announcement, with a total supply of 20 billion tokens. The project had previously announced a fundraising goal of $300 million, offering tokens at $0.015 each during a private placement round that began in October.

However, the initiative faced challenges in attracting investors, with total commitments reaching only $20 million by mid-November. Sun’s involvement and substantial investment now brings the total to $52 million.