Justin Sun, the founder of the , has emerged as the largest investor in Donald Trump’s cryptocurrency project, World Liberty Financial (WLFI), by purchasing $30 million worth of its tokens.
“We are thrilled to invest $30 million in World Liberty Financial as its largest investor,” Sun announced on 25 November 2024 on X. “TRON is committed to making America great again and leading innovation.”
The purchase was executed through a wallet linked to HTX, a crypto exchange controlled by Sun, according to Etherscan data. The wallet acquired 2 billion WLFI tokens at $0.015 each.
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
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World Liberty Financial Faces Sluggish Sales
Prior to this, the project had struggled with sluggish sales since its mid-October launch. WLFI tokens are non-transferable and restricted to non-U.S. buyers and accredited investors, discouraging wider participation.
Sun’s investment brought total sales to $52 million, significantly boosting the project’s progress but still far short of its $300 million fundraising target.
However, the purchase means Trump and his family will begin receiving payments. According to the project’s “gold paper,” Trump’s company, DT Marks DEFI LLC, is entitled to 75% of net revenues once sales surpass $30 million.
Donald Trump serves as the project’s “chief crypto advocate,” while his sons Eric, Barron, and Donald Jr. are listed as “Web3 ambassadors.”
Trump’s campaign pledged to position the U.S. as a global crypto hub and reduce regulatory constraints on the industry.
Meanwhile, Sun faces his own regulatory challenges in the U.S. The Securities and Exchange Commission filed a lawsuit against him in March 2023, alleging unregistered securities sales and market manipulation involving Tron’s TRX token, allegations Sun denies.
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Sun Spends $6.2M On A Banana Taped To Wall
Last week, Sun made headlines for spending $6.2 million on an artwork of a banana taped to a wall, which he said he plans to eat.
Cattelan’s “Comedian” first gained notoriety at Art Basel Miami in 2019 when it sold for $120,000. While the banana itself is perishable, the artwork comes with a certificate of authenticity and instructions for replacing the fruit and tape, allowing the concept to endure.
Justin Sun’s winning bid of $5.2 million—plus an additional $1 million in auction fees—soared past its presale estimate of $1-1.5 million, with Sotheby’s noting “over six minutes of heated bidding.”
TRX, currently trading at under $0.20, has dropped 5.5% in the past day but remains 84% up year-to-date, though it is still below its January 2018 peak of $0.23.
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