Justin Sun, the founder of the Tron blockchain, has taken centre stage in Donald Trump’s crypto project, World Liberty Financial (WLFI), with a substantial $30 million investment. This makes Sun the largest investor in the venture, which has faced a lukewarm reception since its mid-October launch.
In a November 25th post on X, Sun expressed his enthusiasm for the project, linking it to his blockchain’s ambitions and echoing Trump’s campaign slogan. “TRON is committed to making America great again and leading innovation,” Sun declared, reinforcing the alignment between his blockchain empire and Trump’s vision for a crypto-centric America.
The investment came through a wallet identified by Etherscan as belonging to Sun’s HTX crypto exchange, formerly known as Huobi. The wallet purchased two billion WLFI tokens at $0.015 each. This influx doubled the total raised by the project, lifting sales to $52 million, still far below its ambitious $300 million target. Before Sun’s intervention, WLFI sales had been slow, hindered by restrictions limiting purchases to non-US persons and accredited US investors, along with non-transferability conditions that prevent resale of the tokens.
This milestone unlocks payments to Trump’s business entity, DT Marks DEFI LLC, which is entitled to 75% of net revenues once the project crosses the $30 million mark. For Trump and his family, who play key roles in the project’s branding—Trump as “chief crypto advocate” and his sons as “Web3 ambassadors”—this is a significant step forward.
Zak Folkman, co-founder of World Liberty Financial, praised Sun’s investment as a vote of confidence. “This sizable purchase underscores the early success of this project,” he said, adding that other significant transactions have also occurred. Folkman remains optimistic about WLFI’s potential to establish itself as a platform for “freer and fairer finance,” though scepticism in the market persists.
The project aligns with Trump’s broader crypto-friendly agenda, which aims to make the US a global crypto leader while scaling back regulatory oversight. However, its launch has raised eyebrows, not least because of its unconventional marketing and token restrictions.
Sun’s involvement adds another layer of intrigue. While his backing bolsters WLFI’s credibility, it also raises questions given his ongoing legal challenges in the US. The Securities and Exchange Commission (SEC) sued Sun and Tron in March 2023, accusing them of selling Tron (TRX) tokens as unregistered securities and engaging in wash-trading to manipulate prices. Sun has denied these allegations, but they underscore his precarious relationship with US regulators.
Sun’s reputation for headline-grabbing antics adds further colour to the story. Just days before his WLFI investment, he paid $6.2 million for an artwork featuring a banana taped to a wall and hinted at plans to eat it, sparking a wave of social media buzz. This latest move suggests Sun is as interested in shaking up the crypto narrative as he is in the financial stakes.
Meanwhile, Tron’s TRX token has been on a rollercoaster. Although it’s up 84% this year, it dropped 5.5% in the wake of the WLFI announcement, trading under $0.20. The token remains below its 2018 peak of $0.23, reflecting broader market volatility.
For now, the partnership between Sun and Trump appears to signal an unconventional but potentially potent alliance in the crypto space. While WLFI’s success is far from assured, Sun’s high-profile investment and Trump’s political clout may provide the momentum needed to turn it into a flagship project. Whether this gamble pays off or becomes another footnote in the colourful history of crypto remains to be seen.
