Justin Sun Invests $30M in Trump’s World Liberty Financial Project

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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November 25, 2024

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Justin Sun, the founder of the blockchain network Tron, has announced a $30 million investment in World Liberty Financial (WLF), a project backed by U.S. president-elect Donald Trump.

In a social media post on X, Justin Sun expressed his enthusiasm for the partnership, stating: “We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor.”

The WLF Project aims to integrate blockchain tech with traditional financial services. Details about its products or services are limited. But the project has been gaining attention due to its association with Trump.

In October, Trump announced WLF project’s KYC (Know Your Customer) verification is open for the sale of the WLFI governance token. WLF also eventually has plans to launch its token. The whitelist is open to accredited investors in the U.S. and non-U.S. persons.

Sun’s Controversial Past with the SEC

Sun’s investment comes despite ongoing legal troubles with the U.S. Securities and Exchange Commission (SEC). The SEC filed a lawsuit against Sun, alleging fraud, market manipulation, and the unregistered sale of securities through his projects Tronix (TRX) and BitTorrent (BTT).

The lawsuit accuses Sun and his associated entities of breaking federal law by offering unregistered securities and engaging in manipulative trading practices to inflate trading volume.

In updated court filings, the SEC also claims that Sun frequently traveled to the U.S. during his work with the Tron Foundation and other affiliated entities, contradicting claims of minimal ties to the country. Despite these allegations, Sun remains undeterred, continuing to make high-profile investments.

Sun’s Headline-Grabbing Extravagance

Sun often makes headlines for his extravagant purchases. Last week he acquired Maurizio Cattelan’s viral 2019 artwork “Comedian”—a banana duct-taped to a wall—for $6.24 million at a Sotheby’s auction.

Sun described the piece as “a cultural phenomenon bridging the worlds of art, memes, and the cryptocurrency community.”