TRON’s $30 Million Purchase of World Liberty Financial Tokens Benefits Trump Family
Justin Sun’s TRON recently made a significant investment of $30 million in World Liberty Financial tokens. This investment has resulted in President-elect Donald Trump and his sons, Eric, Don Jr., and Barron, receiving payments from the venture.
Trump Family’s Roles in World Liberty Financial
- Trump listed as “Chief Crypto Advocate”
- Sons named as “Web3 Ambassadors”
For months, Trump and his family have been endorsing World Liberty Financial, touting its ability to “make finance great again.” The company aimed to raise $300 million through token sales but struggled to reach its target. With only $21 million in sales, World Liberty was falling short until Sun’s investment turned things around.
With the investment crossing the $30 million mark, the Trump family is set to receive a minimum of $15 million, as outlined in World Liberty’s “Gold Paper.”
Allocation of Proceeds
- DT Marks DEFI LLC, Trump’s company, to receive 75% of proceeds
Despite facing criticism from the crypto community, World Liberty Financial has designated Sun as an advisor following his investment. This move can be interpreted as an attempt to align with the incoming U.S. President, who has expressed intentions to appoint a crypto-friendly SEC chief.
“Foreign countries and rogue business people would have never thought to be as brash in cultivating an American president as what we are witnessing in the orbit around Trump.” – Jeff Hauser, Revolving Door Project
Although Sun has not met with any of the Trumps, a meeting with Eric Trump is scheduled at a Bitcoin conference in Abu Dhabi next month. Sun has clarified that his investment does not come with expectations of favors from Trump in return.
About the Author
Monika Ghosh is a Reporter at CryptoSlate, with a deep interest in blockchain and crypto. She believes in the potential of blockchain to address financial disparities and enhance transparency. Monika is also an avid reader and food enthusiast.
About the Editor
News Desk is the Editor at CryptoSlate, providing comprehensive and insightful coverage of crypto news, trends, and data. The focus areas include Bitcoin, macroeconomics, DeFi, and AI.
