Key Insights:
Justin Sun has invested $30 million in Eric Trump's World Liberty Financial.
The project was launched just prior to Donald Trump's re-election as the President.
Justin Sun has been a key player in crypto markets since its early days.
Crypto billionaire, investor, and founder of Tron Justin Sun has announced that Tron has invested $30 million in World Liberty Financial(WLFI), a DeFi project launched by Donald Trump and headed by his son Eric Trump. To date, WLFI has sold 3.5 billion tokens at an average price of $0.015.
Despite Trump's landslide victory, WLFI has hit a slump in sales. Yet, it has restricted sales within the US, possibly to prevent any legal issues with the current administration still being in power.
Trump is to assume the Presidency on 20 January 2025. Interestingly, on the same date, US SEC chief Gary Gensler announced his resignation. Earlier, during the 2024 Bitcoin Conference in Nashville, Trump announced he would get rid of Biden's anti-crypto crusade and later expressed his desire to fire the SEC chief.
Amid slump in sales, Eric Trump's World Liberty Financial, has restricted sales to investors in the US. Upon visiting the site, visitors are asked about their location and on selecting, US, they see the message below.
The tokens in the US token sale have not been registered under the US Securities Act or any other law or with any regulatory authority. World Liberty Financial does not consider the tokens to be securities but the tokens offered in this US token sale may only be sold to persons who have been verified as accredited investors under Rule 506(c) of Regulation D under the Securities Act. No information on this site is intended to be an offer to buy or a solicitation of an offer to sell any tokens where not permitted by applicable law. Information on this site may not be copied or republished.
World Liberty Financial (WLFI)
For visitors from other geographies, they are directly taken to the token sale page shown below.
At present, WLFI has restricted sales within the United States, but people outside the country can easily invest in the token through its sale page. All you need to do is, get a wallet with some ETH, USDT, USDC or wETH.
Visit the World Liberty Financial token sale page (mentioned in the image link above).
Connect your MetaMask and Coinbase wallets, or choose from other available options.
Enter the amount of ETH, USDC, USDT, or wETH you wish to spend into the field provided on the page.
You will receive the approximate number of WLFI tokens that you can purchase with the entered amount. The wallet will also show the WLFI tokens present in your wallet, if any.
Confirm the swap to finalize the purchase.
World Liberty Financial is a fully legitimate and legal token launched by Donald Trump and founded by his son Eric Trump. Its current market cap is $52.5 million.
On its legality, the disclaimer provided above is shown because the SEC has not considered this to be a security, nor has it stated otherwise. Given the anti-SEC stance of Donald Trump and the recent investigations by the SEC on various crypto projects, it seems a wiser decision to restrict US sales till further clarity emerges.
However, given there is no clear policy on crypto regulation even after the FIT-21 Act, it is currently legal to buy WLFI in the USA and it enjoys a similar status as DOGE, SHIB, WIF, or any other crypto.
Justin Sun has made some notable investments in various crypto projects after his success with Tron. At present, his network (in crypto) is around $1.8 billion, with Tron having one-fourth of his portfolio.
Sun has recently launched the memecoin creation tool Sun.Pump, which quickly took over Solana-based Pump.Fun, a much larger competitor.
Below is a snapshot of his portfolio as curated by Arkham Intelligence.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.