Justin Sun buys more of Trump’s WLFI than it planned to sell – Protos
Crypto enthusiast and entrepreneur Justin Sun recently made a significant investment in World Liberty Financial (WLFI), a cryptocurrency token that has been getting mixed reviews due to its association with Donald Trump. Sun, known for his interest in blockchain technology, shared on social media that he had purchased $30 million worth of WLFI tokens, surpassing all other investors and acquiring more tokens than initially planned for sale.
The transaction, which transferred 2 billion WLFI tokens to an address linked to Sun’s advisory firm HTX, raised eyebrows as World Liberty Financial had previously stated in SEC filings that it intended to sell only $30 million worth of tokens. It’s unclear why the company altered its sales strategy without prior notice.
With this purchase, Sun now holds the largest share of WLFI tokens, exceeding other investors by a significant margin. However, it’s worth noting that Donald Trump is still in possession of approximately ten times more tokens than Sun.
Interestingly, data from a Dune dashboard reveals that the majority of WLFI token sales have concentrated in just five wallets, with Trump’s holdings far surpassing those of other investors, including Sun.
On a related note, Sun’s HTX recently redeemed around $500 million in Wrapped Bitcoin (WBTC), a move that caught many by surprise as HTX had not previously disclosed its WBTC holdings.
Curious about the reasons behind World Liberty Financial’s decision to change its token sale plans for Sun, we reached out to the company for clarification, but as of now, we have not received a response.
Overall, Sun’s investment in WLFI signals his confidence in the future potential of this token, despite the uncertainties surrounding its sales strategy and distribution. It will be interesting to see how this story unfolds in the ever-evolving landscape of cryptocurrencies.
