Founder of Trump’s World Liberty Financial Credits Justin Sun for Project Success
World Liberty Financial (WLFI), the cryptocurrency project endorsed by Donald Trump, has seen significant early success, thanks in large part to crypto billionaire Justin Sun. According to World Liberty co-founder Zak Folkman, Sun’s involvement—marked by his $30 million purchase of WLFI tokens—played a crucial role in the project’s rapid growth.
Speaking at CoinDesk’s Consensus Hong Kong conference, Folkman emphasized WLFI’s mission: “The goal of the project is to create progress by merging traditional financial institutions with decentralized finance.”
Before Sun’s intervention, WLFI struggled to gain traction. The project, which was initially introduced as a lending platform based on Aave, faced tepid sales and failed to reach its $30 million fundraising goal. The token was restricted from trading and available only to non-U.S. investors and accredited U.S. investors.
However, Sun’s investment shifted the momentum. “This guy,” Folkman said, gesturing towards Sun, “recognized that regardless of the outcome, this project is a monumental move forward for the entire crypto community.” Following Sun’s involvement, WLFI exceeded its initial fundraising target, prompting the team to set a new goal. Should this new milestone be reached, WLFI will become one of the four largest initial coin offerings (ICOs) of all time.
Justin Sun and Zak Folkman at CoinDesk’s Consensus Hong Kong Conference (Source: CoinDesk)
Despite the high-profile backing, Folkman stressed that WLFI’s success was achieved without venture capital investment or preferential treatment for token buyers. “No VC backing and no special treatment to anybody who purchased the token,” he stated.
As Sun became an official investor in WLFI, World Liberty Financial also made strategic acquisitions, including a $10 million purchase of TRX—the native token of Sun’s TRON blockchain—as well as WBTC, a Sun-linked bitcoin derivative.
Reports from Blockworks in February suggested that World Liberty was offering crypto projects a promotional deal: companies that purchased WLFI tokens and paid an additional fee would have their tokens added to World Liberty’s portfolio. Folkman addressed these claims directly, stating, “I’ve seen that going around. The person who was going out and purporting to represent us was not connected with our company.”
Despite the initial scrutiny surrounding its launch and affiliations, World Liberty Financial has solidified its position as a major player in the crypto space. With its expanding suite of products and Sun’s influential backing, the project appears to be on a trajectory for continued growth.
