Justin Sun Joins Donald Trump’s World Liberty Financial as Adviser After $30M Investment

Journalist

Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Author Profile

Share

Copied

Last updated: 

November 25, 2024

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Justin Sun, founder of Tron and a prominent figure in the crypto industry, was named an advisor to World Liberty Financial (WLFI) on November 26.

The appointment follows Sun’s substantial $30 million investment in the decentralized finance (DeFi) project, which was backed by the incoming President of the United States, Donald Trump.

Justin Sun Bets Big on World Liberty Financial: Can $30M Push Trump-Linked DeFi Project to Success?

In a statement shared via X (formerly Twitter), World Liberty Financial expressed excitement about Sun’s new role.

World Liberty Financial’s launch aligns with Trump’s pro-crypto agenda, a key talking point during his presidential campaign.

The project seeks to establish itself as a leader in the DeFi space through technological integrations and network expansion.

WLFI is the platform’s governance token, allowing holders to engage in DeFi activities such as borrowing and lending.

This investment boosts total token sales to $52 million, a major milestone for WLFI. Before Sun’s involvement, the platform had sold $21 million worth of tokens to qualified U.S. and international investors.

However, the project is currently short of its ambitious fundraising goal of $300 million at a valuation of $1.5 billion.

The funds are intended to support various development initiatives, including a stablecoin-focused credit card.

According to WLFI’s white paper, surpassing $30 million in token sales triggers financial gains for the Trump family.

Donald Trump’s company, DT Marks DEFI LLC, will receive 75% of the platform’s future net revenues.

Justin Sun Joins WLFI: Can Tron’s Founder Elevate Trump’s DeFi Dream?

Sun, a graduate of the University of Pennsylvania and founder of Tron, a blockchain ecosystem ranked among the top 10 digital assets by market capitalization, brings significant expertise to WLFI.

Recently, World Liberty Financial integrated Chainlink’s infrastructure to enhance on-chain data access and enable cross-chain connectivity.

Sun’s advisory role at World Liberty Financial adds to his growing list of crypto-related positions.

He also serves as an advisor to HTX (formerly Huobi) and a long-time supporter of BitTorrent.

The entrepreneur’s reputation as a bold and unconventional investor continues to grow.

Recently, Sun attracted attention when he spent $6.2 million on duct-taped banana artwork at a Sotheby’s auction.

The art, as he claimed, “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”