The founder of Tron blockchain, Justin Sun, has recently invested $30 million in World Liberty Financial (WLFI), a decentralized finance (DeFi) project backed by President-elect Donald Trump, making him the largest investor.
Notably, WLFI initially aimed to raise $300 million but later reduced its target to $30 million due to disappointing sales. Sun’s investment significantly boosted the project, and his involvement may attract more investors and attention to WLFI.
Why Invest in WLFI?
Sun publicly announced via X (formerly Twitter) that his reasons for investing in WLFI are rooted in the growing significance of the United States as a blockchain hub. He seized the opportunity to praise Trump for the recent Bitcoin development, which was mainly attributed to his election win. The crypto entrepreneur said, “Bitcoin owes it to Donald Trump.”
He also expressed that the investment is a strategic move that aligns with Tron’s commitment to innovation and making America great again. The post hints that Sun’s support is likely driven by WLFI’s potential to play a vital role in the United States’ blockchain and crypto involvement.
On the other hand, World Liberty Financial tweeted Sun’s post and expressed gratitude for his $30 million investment, stating they are “honored to have the support” of the Tron founder.
Sun Keeps Making Industry Moves
Sun is known for being vocal and active on social media, sharing his achievements in the crypto industry and beyond. Between 2018 and 2020, he acquired a Maltese residency card through investment, and in 2021, he participated in a $65 million funding round for Animoca, a Hong Kong-based blockchain gaming company.
The entrepreneur also made notable investments in ether, becoming the largest individual staked ether holder with a balance of $500 million in February 2023. Furthermore, he launched SunPump in August, enabling users to create tokens. The crypto mogul is also associated with the exchange HTX, formerly known as Huobi.
Last week, he purchased Maurizio Cattelan’s “Comedian” artwork, a duct-taped banana, for $6.2 million at a Sotheby’s auction in New York. He plans to take his ownership to the next level by consuming the banana, which he believes will make him a part of the artwork’s history. However, other crypto users think this may be a bullish move for NFTs, which have lost initial hype.
