After months of sluggish initial sales, the ***** family’s decentralized finance (DeFi) project World Liberty Financial received a boost on Monday from none other than Justin Sun, the controversial China-born founder of the Tron blockchain.
World Financial Gets $30M Investment From Sun
Sun announced the big purchase of $30 million worth of World Liberty’s governance token, WLFI, to his 3.6 million followers on the X microblogging site.
“We are thrilled to invest $30 million in World Liberty Financial as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald *****,” Sun wrote. “Tron is committed to making America great again and leading innovation.”
Since being launched in mid-September, only around $20 million worth of the tokens had previously been sold, with investors keeping off due to the project’s restricting sales to only non-US citizens and accredited U.S. investors and the fact that the tokens are non-transferable — meaning users cannot sell.
The purchase means that Sun now controls a vast majority of the total WLFI tokens in circulation. Justin’s $30 million buy pushes total sales to around $52 million, which is still just 17% of World Liberty’s ambitious $300 million WLFI sale goal.
World Liberty, the decentralized finance (DeFi) platform backed by the President-elect and all three of his sons, seeks to provide decentralized borrowing and lending services.
The Monday investment means the ***** family can now start raking in profits. According to the WLFI “gold paper”, the upcoming president’s firm DT Marks DEFI LLC is entitled to about 75% of net revenues after the sale proceeds exceed $30 million, which it now has.
*****’s Crypto Ties
On the campaign trail, ***** famously made a slew of crypto promises, ranging from making the U.S. the crypto capital of the world and establishing a national Bitcoin reserve to ending the Securities and Exchange Commission’s crackdown on crypto.
A recent report recently suggested that the Republican billionaire and his transition team are actively debating the possibility of creating a full-time White House position focused on crypto policy.
If created successfully, this would mark the first-ever White House-level job dedicated to the crypto sector.