The post Justin Sun Announces $30M Investment in Donald Trump-Backed World Liberty Financial appeared first on Coinpedia Fintech News
Justin Sun, a popular web3 leader under the Tron (TRX) ecosystem, has announced that Tron DAO has invested $30 million in Donald Trump-backed World Liberty Financial ($WLFI). Following the strategic investment, Tron DAO is now the largest investor in World Liberty Financial protocol.
According to Sun, the success registered by Bitcoin so far is heavily attributed to Trump’s victory in the recently concluded US elections.
“TRON is committed to making America great again and leading innovation. Let’s go,” Sun noted.
Impact of Tron’s Investment on WLFI
The direct injection of $30 million into World Liberty Financial by Tron DAO will play a crucial role in the mainstream rollout of the WLFI tokens. Furthermore, more than 20k investors have already invested in the World Liberty Financial protocol through the WLFI token sales.
Previously, the World Liberty Financial protocol had raised around $21 million, a huge short of its $300 million target. The sluggish sales of WLFI tokens, despite the direct support from President-elect Donald Trump, has been attributed to its non-transferable nature. Additionally, the WLFI token sales have been restricted to non-US persons and US-accredited investors only.
“This sizable purchase of WLF tokens underscores the early success of this project. There have been several significant purchases in recent weeks, and we are confident in our future success as we build a platform that promotes freer and fairer finance,” World Liberty Financial co-founder Zak Folkman noted.
Bigger Picture
The direct investment of Tron DAO to the World Liberty Financial protocol will play a crucial role in TRX adoption in the United States. Moreover, Sun and Tron’s products have been under investigation by the U.S. authorities for potentially violating securities and money laundering laws.
The balance of goodwill could help Tron network remain a leader in the stablecoins market and other DeFi services.