The post Justin Sun Claims $178M in $WLFI and Reiterates Tron’s Commitment to Support USD1 appeared first on Coinpedia Fintech News
Justin Sun, the founder of the Tron (TRX) chain, has claimed initial unlock for his WLFI token investment. According to on-chain data analysis from Arkham Intelligence, Sun claimed 20% of the $WLFI initial investment, valued at about $178 million.
Sun holds $WLFI valued at about $891.2 million, which he plans to hold for a long time. Moreover, the serial crypto entrepreneur has a leadership role in the World Liberty Financial project, which is backed by U.S. President Donald Trump and his family.
“We have no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission,” Sun noted
Sun Says Tron Will Support WLFI Project and the USD1 Stablecoin
Following the strategic launch of WLFI trading across several crypto exchanges, Sun stated that the Tron network is committed to working together for mutual benefits in the long haul. Sun pointed to the USD1’s growth beyond $50 million as a key milestone for both entities.
Moreover, Sun noted that a newly minted $25 million in USD1 has set the pace to reach a short-term target of $200 million mints on the Tron chain. The Tron network has grown to a vibrant DeFi ecosystem due to its support for a significant supply of USDT, currently valued at over $80 billion.
Bigger Picture
The Tron network has significantly benefited from its strategic investments in the Trump-backed WLFI. For instance, the Tron network has gained regulatory clarity in the United States in the recent past, and was just selected among other chains by the Department of Commerce (DoC) to onboard the country’s macroeconomic data on the blockchain technology.
Interestingly, the Tron network was selected by the DoC but Cardano (ADA), which is a U.S.-made crypto project, was left out.