The Donald Trump-backed cryptocurrency platform World Liberty Financial got off to a sluggish start, with investors buying far fewer of its WLFI token

Trump's Sluggish DeFi Project Gets a Big Boost From Justin Sun's $30M Token Purchase

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2024-11-25 20:00:05

The Donald Trump-backed cryptocurrency platform World Liberty Financial got off to a sluggish start, with investors buying far fewer of its WLFI tokens than the project hoped for.

World Liberty is a decentralized finance (DeFi) platform backed by the incoming U.S. president and all three of his sons. The project is run by a circle of Trump world insiders, crypto entrepreneurs and financial figures.

Sun, meanwhile, is best known for establishing TRON, a blockchain platform mostly popular in Asia. He is also affiliated with HTX, a popular crypto exchange formerly known as Huobi.

On Nov, 25, $30 million of WLFI tokens were purchased by a wallet tagged to Huobi by Etherscan, the Ethereum blockchain data service. A spokesperson for TRON declined to directly comment on whether the sale was tied to Sun, but sources familiar with the matter told CoinDesk that he was behind the purchase.

We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go! pic.twitter.com/cISTsVYP1f