Justin Sun Raises Stake in World Liberty Financial to $75M
Justin Sun, the founder of TRON, has announced that he has committed an additional $45 million to the Trump family’s World Liberty Financial.
This new infusion of funds brings his total investment in the platform to $75 million, solidifying his role as its largest investor.
Sun’s Investment and Updates
The announcement was made on January 19 via an X post, declaring:
“We trondao are continuing to increase our investment in World Liberty Financial, with an additional $45 million.”
This development follows a $30 million token purchase in November last year that made Sun the biggest stakeholder in the platform, with the project confirming his appointment as an adviser the next day.
According to a report from CoinDesk, World Liberty Financial is also planning to acquire TRON (TRX) tokens for its treasury. However, the report did not specify how much TRX it intends to add to its crypto reserves.
Meanwhile, the project also announced that it has completed the initial sale of its WLFI governance tokens and the release of an additional 5 billion coins, citing “massive demand” and “overwhelming interest.” According to its website, the newly available tokens are priced at $0.05 each.
The DeFi platform originally planned to sell 20% of its total supply of 100 billion WLFI tokens. However, its mid-October launch had sluggish sales, with the initial offering falling short of its $300 million target. Only about 766 million WLFI tokens were sold on the first day at $0.015, generating approximately $11.49 million in revenue at the time.
Despite the early challenges, the project has since experienced a significant surge in demand. According to data from a Dune Analytics dashboard, cumulative sales skyrocketed to $254 million by Sunday evening, a notable increase from $91 million the previous day. Onchain data also shows there are more than 34,000 WLFI holders and over 44,500 transactions to date.
Trump and Melania’s Meme Coins
The recent spike in token sales coincided with Donald and Melania Trump launching their meme coins just days before the president-elect’s inauguration on January 20. Over the weekend, the former unveiled the “Official Trump” token, followed shortly by the latter’s introduction of the “MELANIA” token.
The Trump token saw explosive growth, quickly becoming one of the largest cryptocurrencies by market cap within two days. It reached a peak of approximately $72 before experiencing a sharp decline of more than 50% after the MELANIA token launch.
As of this writing, the Official Trump token is trading at $50, with a market cap of $9.9 billion and a fully diluted valuation (FDV) of $49 billion. Data from DEXscreener shows that the MELANIA token achieved an FDV of $12.46 billion, although it continues to experience major price fluctuations.
The post Justin Sun Raises Stake in World Liberty Financial to $75M appeared first on CryptoPotato.
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Justin Sun Raises Stake in World Liberty Financial to $75M
Justin Sun, the founder of TRON, has announced that he has committed an additional $45 million to the Trump family’s World Liberty Financial.
This new infusion of funds brings his total investment in the platform to $75 million, solidifying his role as its largest investor.
Sun’s Investment and Updates
The announcement was made on January 19 via an X post, declaring:
“We trondao are continuing to increase our investment in World Liberty Financial, with an additional $45 million.”
This development follows a $30 million token purchase in November last year that made Sun the biggest stakeholder in the platform, with the project confirming his appointment as an adviser the next day.
According to a report from CoinDesk, World Liberty Financial is also planning to acquire TRON (TRX) tokens for its treasury. However, the report did not specify how much TRX it intends to add to its crypto reserves.
Meanwhile, the project also announced that it has completed the initial sale of its WLFI governance tokens and the release of an additional 5 billion coins, citing “massive demand” and “overwhelming interest.” According to its website, the newly available tokens are priced at $0.05 each.
The DeFi platform originally planned to sell 20% of its total supply of 100 billion WLFI tokens. However, its mid-October launch had sluggish sales, with the initial offering falling short of its $300 million target. Only about 766 million WLFI tokens were sold on the first day at $0.015, generating approximately $11.49 million in revenue at the time.
Despite the early challenges, the project has since experienced a significant surge in demand. According to data from a Dune Analytics dashboard, cumulative sales skyrocketed to $254 million by Sunday evening, a notable increase from $91 million the previous day. Onchain data also shows there are more than 34,000 WLFI holders and over 44,500 transactions to date.
Trump and Melania’s Meme Coins
The recent spike in token sales coincided with Donald and Melania Trump launching their meme coins just days before the president-elect’s inauguration on January 20. Over the weekend, the former unveiled the “Official Trump” token, followed shortly by the latter’s introduction of the “MELANIA” token.
The Trump token saw explosive growth, quickly becoming one of the largest cryptocurrencies by market cap within two days. It reached a peak of approximately $72 before experiencing a sharp decline of more than 50% after the MELANIA token launch.
As of this writing, the Official Trump token is trading at $50, with a market cap of $9.9 billion and a fully diluted valuation (FDV) of $49 billion. Data from DEXscreener shows that the MELANIA token achieved an FDV of $12.46 billion, although it continues to experience major price fluctuations.
The post Justin Sun Raises Stake in World Liberty Financial to $75M appeared first on CryptoPotato.
Read More
World Liberty Financial WLFI Token Debuts With $7B Market Cap