Trump-Backed WLFI Adds Justin Sun As Advisor After TRON Makes $30M Investment

World Liberty Financial, the DeFi project backed by U.S. President-elect Donald Trump and co-founded by two of his sons, has added TRON founder Justin Sun to its pool of advisors after the cryptocurrency executive donated $30 million to the project.

The team behind WLFI, which includes Eric Trump and Donald Trump Jr., said they believe Sun's "insights and experience will be instrumental as we continue to innovate and grow."

TRON Becomes WLFI's Top Investor

Ahead of the WLFI team's announcement regarding its new advisor, Sun revealed that TRON, the third top blockchain in the world by Total Value Locked (TVL), is investing $30 million into WLFI, making it the yet-to-be-launched crypto platform's largest investor.

"The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump! TRON is committed to making America great again and leading innovation," he said in a statement.

$TRX Price Climbs After Announcement

WLFI's news regarding Sun's advisor role in the project triggered a small bump in the price of TRX, the native cryptocurrency of the TRON blockchain.

Data from CoinGecko shows that TRX increased by more than 2% in the last 24 hours amid a two-week 12% spike. So far in 2024, the token has been up by more than 88%.

In the rankings of the world's largest cryptocurrencies by market value, TRX is currently in the Top 12 with a $17.2 billion market cap out of over 1,500 tokens being tracked by CoinGecko.

Crypto Community Reacts to News

Many prominent names in the crypto and blockchain space have since commented on the development, including BitGo COO Chen Fang, who said they were looking forward to providing various support services to WLFI users. It is unclear whether the Trump-backed DeFi project is in talks with the regulated custody, borrowing and lending provider for a collaboration.

Olympian Caitlyn Jenner, who is faced with a lawsuit over alleged misrepresentation of her token JENNER, said Sun made a "great move" by investing in WLFI, while leading onchain analytics firm Arkham Intelligence also congratulated the 34-year-old millionaire.

Chainlink builder Michael Robinson congratulated Sun and Eric for the collaboration, noting how Chainlink, WLFI, and TRON are connected. TRON is a partner of Chainlink Scale, while WLFI recently revealed that the decentralized blockchain oracle network will power WLFI.

Prominent crypto trader Borovik thanked Sun "for helping Trump make crypto great again."

The Trump-supported project's addition of Sun into its advisory board comes just over a week after it was reported that Trump's social media company is in advanced talks to acquire Bakkt, a crypto trading platform.

The incoming president has recently been diving deeper into the crypto space after he promised Bitcoiners earlier this year that he will support the Bitcoin community and the broader crypto industry if he wins the presidency.