The post TRON’s Justin Sun emerges as the savior of Trump’s crypto venture WLFI appeared on BitcoinEthereumNews.com.

Donald Trump’s crypto experiment, World Liberty Financial (WLFI), was on the verge of a spectacular collapse. Despite weeks of relentless promotion by the president-elect and his sons, the venture failed to capture the interest of the community the way they wanted it to. Hardly anyone was talking about WLFI. Sales figures were down 93% from its ambitious target. And worse, the project couldn’t even clear the basic financial threshold required to trigger a payout to Trump. The venture, marketed as a way to “make finance great again,” was crashing before it could take off. Then came Justin Sun. The young crypto mogul, famous for both his eccentricity and a flair for controversies, stepped in with a $30 million investment on November 25. His cash injection didn’t just save WLFI from outright humiliation, it literally single-handedly crossed the financial threshold needed to unlock Trump’s $15 million payout. And just like that, Justin became the unlikely savior of Trump’s Web3 ambitions. Justin Sun, Trump, and the WLFI power play Days before bailing out WLFI, Justin shelled out $6.2 million for an artwork that consisted of a banana duct-taped to a wall. But his bizarre spending habits pale in comparison to the legal storm surrounding him. The artwork, titled Comedian, was created by Italian artist Maurizio Cattelan and comes with instructions to replace the banana once it rots. “I want to tape my banana on the wall of the White House,” Justin declared during a press conference in Hong Kong, where he also ate the banana. In 2023, the SEC filed a lawsuit accusing Justin of using fake trades to pump the price of his cryptocurrency TRON (TRX). He has denied the allegations, and while the case remains unresolved, his reputation in crypto circles is anything but spotless. In 2019, Justin paid $4.5…

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Filed under: News - @ November 29, 2024 6:25 pm