Tron has invested $30 million in World Liberty Financial (WLFI), the decentralized application backed by the family of newly elected President Donald Trump.
Tron founder Justin Sun said in a social media post on November 25 that TRON has become the largest WLFI investor. Sun added:
“The US is becoming the blockchain hub, and Bitcoin has @realDonaldTrump to thank for that! TRON strives to Make America Great Again and lead innovation. Let’s go!”
WLFI said the investment will help drive innovation with Sun by “aligning with a vision for a stronger blockchain future.”
Boosting US dollar-pegged stablecoins
WLFI has partnered with leading money market Aave to develop an application that would help drive mass adoption of US-pegged stablecoins. In addition to the president-elect, his three sons also support the project.
According to the Trump family-backed project, stablecoins can help maintain US financial leadership by ensuring the dollar remains the global settlement layer.
The protocol stated in a September 4 statement:
“We want US-pegged stablecoins to remain the settlement layer of the world for the next hundred years.”
On September 30, the WLFI opens the whitelisting process for interested investors who wanted to get acquainted with the protocol. However, due to the regulatory landscape in the US, retail investors based in the country were left out.
Two weeks after the whitelist became available, the WLFI team announced it Added 100,000 interested accredited investors.
Particularly the website crashed twice when WLFI opened its token presale, which raised approximately $8 million on its first day.
Despite Sun’s investment, WLFI has only raised a small amount over $51 million, significantly less than the original goal of $300 million.
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Gino Matos
Gino Matos is a law graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise focuses primarily on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
