Justin Sun, the founder of Tron, has made headlines by purchasing 2 billion WLFI tokens from the World Liberty Financial cryptocurrency platform for $30 million. This significant investment positions him as the largest stakeholder in a project closely associated with Donald Trump’s family.
The World Liberty Financial team aims to raise $300 million through the sale of 100 billion WLFI tokens, which serve as governance tokens on the Ethereum network. The presale event kicked off on October 15, with the platform amassing over $5 million within the first hour. By October 17, just a day after sales began, the total exceeded $10 million. With Sun’s recent acquisition, the company has now raised more than $50 million.
Launched in September, World Liberty Financial is a decentralized finance (DeFi) platform endorsed by Trump’s family. The project’s gold paper identifies Donald Trump as the “chief crypto advocate,” while his sons—Eric, Barron, and Donald Trump Jr.—are designated as Web3 ambassadors. Rich Teo, co-founder of Paxos, will oversee stablecoins and payments, with Luke Pearson from Polychain Capital serving as an advisor.
Trump’s company, DT Marks DEFI LLC, is set to receive 22.5 billion WLFI tokens and 75% of net revenues from World Liberty Financial after deducting operational expenses and the initial $30 million allocated for operational reserves.
Previously, Trump nominated financier Scott Bessent, a supporter, for the position of U.S. Secretary of the Treasury.
