Justin Sun Becomes Top Investor in Donald Trump’s Crypto Venture with $30M Bet

Justin Sun, the founder of the Tron blockchain, has made waves in the crypto world with a $30 million investment in World Liberty Financial, a crypto project spearheaded by Donald Trump. The announcement, made via Sun’s social media post on November 25, positions him as the largest investor in the venture.

“We are thrilled to invest $30 million in World Liberty Financial as its largest investor,” Sun wrote, emphasizing TRON’s commitment to innovation and “making America great again.”

Prior to Justin Sun’s endorsement, WLFI faced sluggish sales, having only raised $20 million since its mid-October launch. The project’s restrictive policies, limiting sales to non-U.S. persons and accredited U.S. investors, coupled with the tokens being non transferable, deterred many potential buyers. Sun’s significant buy raised total sales to $52 million, a step toward the project’s ambitious $300 million goal.

Trump Family Gets Paid, Crypto Vision Takes Shape

Justin Sun’s investment triggers a critical milestone for World Liberty Financial. According to its “gold paper,” Trump’s company, DT Marks DEFI LLC, is now entitled to 75% of net revenues after surpassing the $30 million mark.

“This sizable purchase of WLF tokens underscores the early success of this project,” stated Zak Folkman, co-founder of World Liberty Financial. He expressed optimism about the project’s future, citing other recent high-value investments as indicators of its potential.

Trump, designated as the platform’s “chief crypto advocate,” has promised to transform the U.S. into the “crypto capital” and ease regulatory oversight. His sons Eric, Barron, and Donald Trump Jr. are listed as “Web3 ambassadors,” reinforcing the project’s alignment with the family’s crypto-friendly vision.

Justin Sun Controversies and TRX’s Struggles

While Sun’s investment underscores his influence, it also draws attention to his ongoing legal challenges. In March 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against him, alleging that TRON’s native token, TRX, was sold as an unregistered security. Justin Sun denies the allegations, including claims of wash trading to inflate TRX’s value.

TRX, meanwhile, has seen a 5.5% dip in the past day, now trading below $0.20. Although it has surged 84% this year, the token remains 15% shy of its January 2018 peak.

The post Justin Sun Becomes Top Investor in Donald Trump’s Crypto Venture with $30M Bet appeared first on TheCoinrise.com.