Michaela Alvez
Crypto entrepreneur Justin Sun has invested $30 million in President-elect Donald Trump’s crypto company World Liberty Financial, making him the largest investor of the decentralized finance project.
“TRON is committed to making America great again and leading innovation,” Sun wrote in an X post on Monday.
According to Bloomberg News, Sun addressed questions about the investment and emphasized that it is “not related to any political purpose.” Instead, he explained that the decision was motivated by the project’s potential to provide “innovative solutions for decentralized lending and governance.”
“We’re excited about the momentum experienced by World Liberty Financial, and this sizable purchase of WLF tokens underscores the early success of this project,” a spokesperson for World Liberty Financial said in a statement.
Trump Enters the Crypto World
In September 2024, Donald Trump unveiled World Liberty Financial and designated himself as the chief crypto advocate, while his sons, Eric, Donald Jr., and Barron Trump, were named ambassadors for the platform’s web3 initiatives.
At its launch, the project aimed to secure $300 million at a $1.5 billion valuation. However, recent disclosures reveal that the $300 million token offering is mainly being promoted to international investors.
Moreover, World Liberty Financial has filed with U.S. regulators, outlining its plan to offer $30 million in tokens within the U.S. market. According to the filing, once this target is met, the company reportedly intends to cease its U.S. token offering, even though it has an additional $288.5 million worth of tokens still available for sale.
Shib Leader Responds to Sun
Shytoshi Kusama, the pseudonymous leader of the Shiba Inu project, responded to an X post made by Sun. “You were a big inspiration for me early on, and I am proud to see you achieve PMF in this space. Good work!” Kusama wrote.
Kusama also reassured the Shiba Inu community, known as the Shib Army, telling them not to worry. “We will achieve the same (product-market fit) through a different approach,” he stated.
Read More
- World Liberty Financial Token Sale Scheduled Amid Ongoing Controversies
- Donald Trump’s World Liberty Financial Opens Whitelists; New Era of DeFi?
- Shibarium: ‘Hold My Beer’ As Justin Sun Touts Low Transaction Fees
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
