The founder of the Tron blockchain, Justin Sun, bought $30 million worth of WLFI tokens from World Liberty Financial. That move positions Sun as the majority holder of the Ethereum-based governance token. The investment is a big coup for the project, which lagged far behind early funding goals.
First, World Liberty Financial was looking to sell $300 million worth of tokens but changed its goal by striking out 90% to $30 million. The project has closed its initial token offering and reached a crucial financial milestone with this investment.
Justin Sun Injects $30M Into Trump Crypto Project
World Libertarian Financial was launched in September this year. The project’s revised target are of $30 million at the moment. Sun’s recent $30 million purchase has seemingly pushed the project over its goal.
Drainage of this milestone also unlocks payments from the project’s founder, including President Trump. World Liberty says that starting next year, a Trump LLP will get 75 percent of net protocol revenues over $30m. Sun’s purchase will hand a Trump-associated entity $15 million.
As of now, there is no formal commitment that the project’s team will reinvest earnings into the platform.
Trump Crypto Gains Momentum With Sun’s Aid
This investment from Justin Sun further proves that blockchain and cryptocurrency markets are attracting bold moves. He has recently been on the high profile buying art and other digital assets. Sun’s goal of growing blockchain correlates with the synergy of its growth to names that matter.
Market observers say this is another clear financial and symbolic endorsement of Donald Trump‘s crypto initiatives by the market. Sun also talked about the U.S. being a potential hub for blockchain growth and linked that to Trump’s leadership. This move, though slow-paced, might also bring World Liberty Financial some more attention.
They’ve already taken gigantic exposures in assets like the Banana Gun token and ultra-high-value art. World Liberty Financial follows the same trends, using financial knowledge and new age marketing tactics. However, at the core of it lies the idea of decentralization and liberation.
World Liberty Hits Milestone With Sun’s Backing
The capital infusion represents a turning point for the DeFi project. With World Liberty reaching the $30 million mark, it can now start to focus on operational priorities that lay ahead of them. Those resources can now be applied to the project’s obligations further and to the project’s platform.
But the project’s future and what it will take to continue winning investor confidence are both open questions. WLFI tokens’ governance implications could depend on the fact that Sun has an overwhelming percentage of tokens at his disposal.
For now, Sun’s $30 million bet signals renewed potential for a project many had written off. Whether it can capitalize on this momentum remains to be seen as industry eyes turn to its next steps.
