The flattered president-elect makes Justin Sun an advisor in World Liberty Financial.

Justin Sun, the founder of the blockchain Tron, has become the largest investor in Donald Trump’s crypto project World Liberty Financial, following a $30 million token purchase.

Sun, a 34-year-old Chinese-born cryptocurrency entrepreneur and business executive associated with the crypto exchange HTX, announced in an X (formerly Twitter) post on 25 November the following:

“We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go!”

Blockchain data from Etherscan revealed that a wallet linked to HTX (formerly Huobi), a Sun-controlled crypto exchange, purchased 2 billion World Liberty Financial (WLFI) tokens at $0.015 each shortly before Sun’s announcement.

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The very next day, the vividly flattered president-elect Donald Trump made Sun an advisor to the board of World Liberty Financial, his failing crypto project.

“Justin’s insights and experience will be instrumental as we continue to innovate and grow. Welcome to the team, Justin!” the firm DT Marks DEFI LLC posted on X.

World Liberty Financial’s token sale, launched in mid-October, faces a number of challenges including restrictions on sales to non-U.S. persons and accredited investors while the tokens being nontransferable. Prior to Sun’s investment, only $20 million worth of WLFI tokens had been sold. Sun’s purchase raised total sales to $52 million - still far short of the project’s $300 million target but enough to trigger revenue-sharing agreements, according to CoinTelegraph.

According to the project’s “gold paper” (Trump’s version of a white paper), the company is entitled to 75% of net revenues after the project raises $30 million, meaning that Trump and his family will now begin receiving payments.

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Donald Trump is listed as World Liberty Financial’s “chief crypto advocate,” with his sons Eric, Barron, and Donald Jr. serving as “Web3 ambassadors.” During his re-election campaign, Trump pledged to make the U.S. the global leader in cryptocurrency innovation while scaling back regulatory oversight.

Sun’s move comes as he and the Tron blockchain face scrutiny from U.S. regulators. The Securities and Exchange Commission sued Sun in March 2023, alleging the sale of Tron’s TRX tokens as unregistered securities and engaging in wash trading to manipulate prices - claims which Sun denies.

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