Photo credit: The Byteline

Justin Sun, the founder of the Tron blockchain, has emerged as the largest investor in Donald Trump’s cryptocurrency venture, World Liberty Financial (WLFI), after purchasing $30 million worth of its tokens.

“We are thrilled to invest $30 million in World Liberty Financial as its largest investor,” Sun announced in a Nov. 25 post on X (formerly Twitter). “Tron is committed to making America great again and leading innovation.”

The investment follows a series of sluggish token sales for WLFI, which launched in mid-October.

Before Sun’s involvement, only $20 million worth of WLFI tokens had been sold. His $30 million purchase pushed the total sales to $52 million — still far from the project’s ambitious $300 million goal.

Blockchain analytics platform Etherscan flagged a wallet controlled by HTX (formerly Huobi), a crypto exchange owned by Sun, as the buyer of 2 billion WLFI tokens at $0.015 each. This transaction makes Sun not only the project’s largest investor but also a critical financial lifeline for WLFI.

However, WLFI has faced challenges since its inception. Token sales have been restricted to non-U.S. persons and accredited U.S. investors, limiting its reach. Additionally, the tokens are non-transferable, meaning holders cannot sell them, further deterring potential buyers.

Sun’s investment marks a milestone for the Trump-backed project. According to WLFI’s “gold paper” (its version of a white paper), the President-elect’s company, DT Marks DEFI LLC, is entitled to 75% of net revenues once the project surpasses $30 million in sales. With Sun’s investment, that threshold has now been met, enabling the Trump family to begin receiving payouts.

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Donald Trump himself serves as the platform’s "chief crypto advocate", while his sons Eric, Barron, and Donald Jr. act as "Web3 ambassadors." Throughout his campaign, Trump has pledged to make the U.S. the global hub for cryptocurrency and reduce regulatory oversight of the industry.

While Sun's involvement brings much-needed momentum to WLFI, it also comes amid his ongoing legal battles with U.S. regulators. In March 2023, the Securities and Exchange Commission (SEC) filed a lawsuit against Sun, accusing him of selling Tron (TRX) tokens as unregistered securities and engaging in wash trading to inflate their value. Sun has denied the allegations.

Despite these challenges, Sun’s investment in WLFI aligns with his broader vision of pushing blockchain innovation. However, both Trump’s crypto ambitions and Sun’s regulatory hurdles could shape the future of this high-profile collaboration.

With WLFI sales at just 17% of its $300 million goal, Sun’s involvement may provide a much-needed boost to the project. Whether the Trump-backed crypto venture can overcome regulatory restrictions and regain investor confidence remains to be seen.