As a seasoned crypto investor with a knack for spotting promising opportunities, I must admit that Justin Sun’s latest move into Donald Trump’s World Liberty Financial (WLFI) has piqued my interest. Having witnessed the meteoric rise and fall of numerous blockchain projects, I’ve learned to read between the lines and spot potential.
Justin Sun, the creator of the Tron blockchain network, has emerged as the largest backer of Donald Trump’s digital currency initiative, World Liberty Financial. Sun made a $30 million investment in the endeavor by purchasing 2 billion WLFI tokens at approximately $0.015 per token.
With Sun’s substantial investment, the project now has a total sales figure of $52 million, even though it hasn’t yet reached its goal of $300 million. On November 25th, Sun expressed his enthusiasm about this investment on X (previously Twitter), expressing that TRON is dedicated to fostering innovation and making America great again.
Since its debut in October, the project has encountered sluggish sales, primarily due to regulations that only allow token purchases by non-U.S. residents and accredited U.S. investors. Moreover, it’s important to note that WLFI tokens are not transferable; this means they cannot be resold after they have been bought.
According to World Liberty Financial’s documentation, if the project achieves a total sales figure of $30 million, Donald Trump’s company, DT Marks DEFI LLC, stands to receive 75% of the net earnings. This significant milestone represents the initial income that the Trump family will derive from this project.
Despite the slow start, the company’s co-founder, Zak Folkman, is confident about the future, emphasizing the growing investor interest. Trump himself is listed as the project’s “chief crypto advocate,” while his sons are “Web3 ambassadors.”
Nevertheless, Justin Sun’s cryptocurrency platform, previously known as Huobi but now called HTX, continues to grapple with regulatory challenges in the United States following a lawsuit by the SEC in 2023. Yet, despite these obstacles, Sun maintains a positive outlook on the future of cryptocurrencies.
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2024-11-26 08:20