Justin Sun, founder of the Tron blockchain, became the largest investor in Donald Trump’s crypto initiative, World Liberty Financial, by purchasing $30 million worth of its tokens on November 25, 2024. This investment marks a significant moment as the project, which has faced sluggish sales since its mid-October launch, now totals $52 million in sales, still only 17% of its $300 million goal.
Sun's acquisition involved buying 2 billion World Liberty Financial (WLFI) tokens at $0.015 each. The project restricts sales to non-US persons and accredited investors, complicating its market appeal. Following this purchase, Trump and his family will begin to receive payments, as DT Marks DEFI LLC, linked to Trump, is entitled to 75% of net revenues after the project surpasses $30 million in sales.
Sun's comments suggest that he views Trump's presidency as beneficial for the crypto market, stating, 'The U.S. is becoming the blockchain hub, and bitcoin owes it to Donald Trump.' This sentiment follows a notable rise in Bitcoin's price since Trump's reelection on November 5, 2024.
Despite the optimism surrounding World Liberty Financial, Sun and Tron are currently embroiled in legal challenges from US regulators regarding the sale of TRX tokens. Meanwhile, TRX has experienced a 5.5% drop in value recently, trading below 20 cents, although it remains up approximately 84% for the year.