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Cryptocurrency News Articles
Justin Sun's TRON DAO Invests $30M in Trump-Backed DeFi Project World Liberty Financial
Nov 28, 2024 at 01:55 am
Justin Sun, the founder of the TRON (TRX) blockchain, has announced a multi-million dollar investment in World Liberty Financial, a decentralized finance (DeFi) crypto project backed by US President-elect Donald Trump.
Justin Sun, the founder of the TRON (TRX) blockchain, has announced a multi-million dollar investment in World Liberty Financial, a decentralized finance (DeFi) crypto project backed by US President-elect Donald Trump.
Sun says that TRON blockchain’s decentralized autonomous organization, TRON DAO, will invest $30 million in World Liberty Financial.
“The US 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!”
TRON DAO is now the largest investor in the Trump-backed DeFi project.
World Liberty Financial is built on the Ethereum (ETH) blockchain and intends to sell 20 billion WLFI utility tokens of the project for $0.015 each, potentially putting it on course to raise $300 million.
According to the Ethereum blockchain explorer Etherscan, TRON DAO received two billion WLFI tokens from the DeFi project, representing a 10% stake in the World Liberty Financial DeFi project.
The Trump-backed DeFi project has so far sold 3.51 billion tokens, nearly 18% of the total supply, in a little over a month since the token sale launched in mid-October.
Interested buyers are paying in Ethereum or one of the two largest stablecoins by market cap – USDT or USDC.
World Liberty Financial is aiming for a fully diluted valuation (FDV) of $1.5 billion. The Trump-backed crypto project says its goal is to shape a “new era of finance.”
“We’re leading a financial revolution by dismantling the stranglehold of traditional financial institutions and putting the power back where it belongs: in your hands.”
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