World

Liberty

Momentum

Banana Gun

Banana

The founder of the&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/02/tron-trx-transaction-dominance-rises-eyes-breakout/">Tron blockchain</a>, 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 didn’t catch up despite this adjustment until Sun’s purchase. The project has closed its initial token offering and reached a crucial financial milestone with this investment. 
<h2 class="wp-block-heading" id="h-justin-sun-injects-30m-into-trump-crypto-project">Justin Sun Injects $30M Into Trump Crypto Project</h2> 
Since&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/25/xrp-lawyer-keeps-80-holdings-in-bitcoin/">World Libertarian Financial</a>&nbsp;launched in September, it has lacked demand. Lackluster interest in the market had made the project’s revised target of $30 million seem out of reach. Sun’s $30 million purchase single-handedly pushed the project over its goal today. 
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. 
However, there is no formal commitment that the project’s team will reinvest earnings into the platform. That uncertainty raises questions about how the funds would support platform development. 
<h2 class="wp-block-heading" id="h-trump-crypto-gains-momentum-with-sun-s-aid">Trump Crypto Gains Momentum With Sun’s Aid</h2> 
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&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/21/bitcoin-etf-options-surge-as-donald-trump-hints-at-crypto-policy-position/">Donald Trump</a>‘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 unusual assets like the Banana Gun token and ultra-high-value art. World Liberty Financial follows the same trends, using financial knowledge and attention-grabbing strategies. 
<h2 class="wp-block-heading" id="h-world-liberty-hits-milestone-with-sun-s-backing">World Liberty Hits Milestone With Sun’s Backing</h2> 
The capital infusion represents a turning point for the struggling DeFi project. With World Liberty reaching the $30 million mark, we can now start to focus on operational priorities. 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 depend on the fact that Sun has an overwhelming percentage of tokens at his disposal. Our investment in World Liberty is still unknown, as we are yet to see how this will influence its direction. 
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. 
The post <a href="https://www.thecoinrepublic.com/2024/11/26/tron-founder-justin-sun-backs-trumps-crypto-with-30m-bet/">Tron Founder Justin Sun Backs Trump’s Crypto with $30M Bet</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Tron Founder Justin Sun Backs Trump’s Crypto with $30M Bet

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 26, 2024

XRP Forms Bullish Pattern. Analyst Sets 48-Hour Countdown to Massive Rally

BTSE Officially Launches AutoTrader Amid Growing AI Adoption

Archax and Ripple Revolutionize Finance with First Tokenized Money Market Fund on XRP Ledger

Invest $1,000 in These Altcoins Now to Secure a $1.5 Million Portfolio by 2025!

Ethereum Gains Momentum Toward ATH: $3,500 Milestone Reached

Clonazepam challenge: Venezuela summons TikTok over the death of minors

Join our free newsletter for daily crypto updates!