• Justin Sun (TRON) has joined Donald Trump’s World Liberty Financial (WLFI) as an adviser.
• This comes a day after Sun bought $30 million of WLFI’s tokens.
• The move signals Sun’s support for Trump’s new crypto project.
Justin Sun, founder of cryptocurrency TRON, has joined Donald Trump‘s new crypto project World Liberty Financial (WLFI) as an adviser. This comes a day after Sun bought $30 million of the WLFI tokens.
Background on Justin Sun
Justin Sun is a Chinese tech entrepreneur who founded the TRON blockchain network and TRX cryptocurrency in 2017. He is known for his aggressive marketing tactics and has been involved in various controversies, including allegedly spreading false news about partnering with major companies like Alibaba.
Justin Sun stepped down as CEO of TRON in 2020 but remains closely involved as an adviser and board member. He was an early investor in the Poloniex exchange and Steemit blockchain social network.
Background on World Liberty Financial and Donald Trump
World Liberty Financial (WLFI) is a new cryptocurrency and financial services company founded by former US President Donald Trump. The project was announced in May 2022 and will offer WLFI tokens, a social network, and a streaming platform.
Trump Media & Technology Group is partnering with Rumble Inc, a YouTube-style video platform popular among US conservatives, to launch WLFI. Trump will be Chairman of TMTG.
Details of Justin Sun Joining WLFI as Adviser
On November 26, 2024, Justin Sun announced on Twitter that he is joining WLFI as an adviser.
According to Trump’s statement, Sun will “provide his broad experience to further optimize the teams capabilities”.
Just a day earlier, Sun had revealed that he purchased $30 million worth of WLFI tokens. He stated that “the token has huge growth potential under Trump’s leadership”.
This purchase made Sun one of the largest individual holders of WLFI tokens.
Reactions to the News
The announcement of Sun joining World Liberty Financial was met with mixed reactions within the crypto community.
Some see it as a smart move by Trump to bring in an experienced crypto founder like Justin Sun. They believe Sun will lend credibility and attract interest from the Asian market.
However, others are skeptical of both Trump and Sun’s controversial track records. They warn that the pairing of two hype merchants could produce more hype than substance.
There are also concerns about how cryptocurrencies and blockchain technology could be used responsibly by politicians. Trump’s previous social media platform Truth Social was barred from Google and Apple app stores for content moderation failures.
It remains to be seen if World Liberty Financial will avoid similar controversies under the leadership of Trump and the advice of Justin Sun. For now, the project is generating substantial hype and attention in crypto circles.
Conclusion
The appointment of Justin Sun as an adviser to Donald Trump’s new crypto venture WLFI is a surprise move. It demonstrates Sun’s standing in the crypto industry despite past controversies.
However, it also raises concerns about whether the pairing of two hype-focused figures can produce a substantive project. The cryptocurrency space will be watching closely to see if WLFI avoids the pitfalls of Trump’s previous social media project Truth Social.
