Donald Trump’s crypto platform, World Liberty Financial (WLFI), just locked in a high-profile partnership by bringing Justin Sun onboard as an Advisor.
The founder of TRON and one of blockchain’s most talked-about figures, Sun has also invested $30 million into the platform, making him WLFI’s largest backer.
WLFI, branded with Trump’s name under an LLC structure, claims to function as a crypto bank. Its services will allow users to borrow, lend, and invest in cryptocurrencies.
The platform launched its WLFI token last month, generating rapid investor interest as it raced toward a $300 million fundraising goal. With Sun’s investment, the platform has already surpassed $51.2 million in token sales.
Under the terms of the deal, Trump’s LLC not only collects billions of WLFI tokens but also claims 75% of all revenue exceeding $30 million. This model is a bit odd. Observers pointed out that it allows for enormous cash infusions without any upfront costs to Trump.
WLFI’s co-founder Zachary Folkman shared insights into the token’s progress, claiming that “well over 100,000 people” are on the platform’s whitelist.
Yet, data from blockchain explorer Etherscan paints a more cautious picture: only 20,400 unique wallet addresses hold WLFI tokens so far, a mere fraction of the registered interest. Still, Folkman remains optimistic about the project’s trajectory.
“We are confident about future success and building out something that helps to make finance freer and fairer,” he said. Just last week, Sun went viral for spending $6.2 million at a Sotheby’s auction for a banana duct-taped to a wall.
Trump’s crypto playbook
Trump has long embraced brand-driven business models, and WLFI is no exception. By licensing his name and promotional power to the platform, Trump secures significant financial stakes without assuming liability.
This approach mirrors his strategy with Trump Media Technology Group, another venture that has drawn scrutiny and enthusiasm in equal measure.
Sun celebrated the partnership saying. “The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump!” he wrote. “TRON is committed to making America great again and leading innovation.”
The TRON founder has faced legal challenges in the U.S., including a 2023 lawsuit from the Securities and Exchange Commission (SEC).
The regulator accused Sun, along with the TRON Foundation, BitTorrent Foundation, and Rainberry Inc., of selling unregistered securities through TRX’s 2017 Initial Coin Offering (ICO). The lawsuit also alleged that Sun manipulated token trading to create the illusion of liquidity.
In March 2024, Sun and his companies filed a motion in a New York federal court, arguing that the SEC lacks global jurisdiction. “The SEC is not a worldwide regulator,” the filing said, challenging the agency’s authority over foreign digital asset offerings. While the case remains unresolved, it clearly hasn’t slowed Sun’s ambitions — or his ability to spend big.
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