Justin Sun’s TRON purchased $30 million worth of World Liberty Financial tokens earlier this week, and the investment enabled President-elect Donald Trump and his sons, Eric, Don Jr., and Barron, to get paid.
World Liberty lists Trump as one of its “Chief Crypto Advocate,” and his sons as “Web3 Ambassadors.” Trump and his family have been promoting World Liberty Financial for months, claiming that it can “make finance great again.”
World Liberty set out to sell $300 million worth of tokens to raise funding but until Sun’s investment, it was failing. It had sold only $21 million worth of tokens, achieving merely 7% of its target until Sun tipped the scales.
Now, since the threshold of $30 million has crossed, the Trumps collectively stand to receive at least $15 million, according to World Liberty’s “Gold Paper.”
Despite the poor reception of World Liberty by the crypto community at large, Trump’s company DT Marks DEFI LLC will receive 75% of all proceeds, as per terms laid out in the Gold Paper.
Upon Sun’s investment, World Liberty Financial named him as an adviser and paved the way for him to be in business with the Trumps. Sun’s latest investment can be seen as a move to curry favor with the next U.S. President, who has promised to replace SEC chief Gary Gensler with a crypto-friendly candidate.
Jeff Hauser, executive director of the Revolving Door Project, a nonprofit that monitors executive branch appointees, told Bloomberg:
“”Foreign countries and business rogues would never have thought of being as brazen in their efforts to cultivate an American President as we see in the orbit surrounding Trump.”
Sun, who has not met any Trump, is likely to meet Eric Trump next month at the Bitcoin Conference in Abu Dhabi. Sun said he did not expect Trump to do him any favors in return for his investment.
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