Justin Sun Purchased $30 Million WLFI Tokens Belonging to Trump’s DeFi Project

Donald Trump-backed cryptocurrency platform World Liberty Financial is off to a sluggish start, with investors selling far fewer WLFI tokens than the project had hoped.

However, Chinese-born crypto billionaire Justin Sun provided significant support to the project by purchasing WLFI worth $ 30 million.

World Liberty is a decentralized finance (DeFi) platform backed by the new US president and his three sons. The project is run by a circle of people around Trump, crypto entrepreneurs and financial figures.

On November 25, $30 million worth of WLFI tokens were purchased by Ethereum blockchain data service Etherscan from a wallet reportedly owned by Huobi. TRON’s spokesperson declined to comment on whether the sale was directly related to Sun, but anonymous sources told CoinDesk that Sun was behind the purchase.

The information provided to CoinDesk was later confirmed by Justin Sun.

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Although WLFI token sales began in September, they were initially sold only outside the US and only investors and accredited US investors were allowed to participate.

Purchasing restrictions – coupled with the fact that WLFI tokens are non-transferable – have made the token a tough sell for most crypto investors. Although the project set a goal of selling $300 million worth of tokens, it had only sold $21 million worth before Sun’s purchase on Monday.

According to the WLFI “gold paper” outlining the plans of the project and the details of the WLFI token, part of the WLFI sale proceeds will be allocated to a company run by Donald Trump.

The company, which was reported to make a profit if its sales revenues exceeded $30 million, could not reach this figure before Sun’s acquisition.