What to know:
- World Liberty Financial, the crypto project backed by Donald Trump’s family, will acquire tron (TRX) for its treasury.
- The project has previously purchased tokens of partners Aave and Chainlink.
The cryptocurrency initiative supported by the family of the newly elected U.S. President, World Liberty Financial, has intentions to purchase Tron (TRX) tokens for their reserves, as reported by someone privy to the situation.
The potential shift could strengthen World Liberty Financial’s existing relationship with the Tron network. Notably, its founder, Justin Sun, is involved in advising President Trump’s cryptocurrency initiative. Moreover, he is the single largest owner of the WLFI token, having invested approximately $30 million in November.
It is unclear by how much TRX World Liberty intends to increase its holdings of cryptocurrencies. Previously, they had invested large amounts in AAVE and LINK, which are tokens from projects that TRX World Liberty has partnerships with. They managed to raise $90 million through the sale of WLFI.
As a passionate crypto investor, I’m thrilled to announce that I’ve taken on the role of “Chief Crypto Advocate” at World Liberty Financial. This esteemed organization is planning to extend accessible crypto-financial services to everyone. The anticipation of my potential return to the White House is creating quite a stir, with many in the crypto industry viewing this as a significant turning point.
Tron will be accompanying the team to the event. The group representing our project is expected to participate in the opening ceremony on Monday. Interestingly, Tron was also one of the sponsors for the first crypto-themed gala, known as “The Crypto Ball,” which took place in Washington D.C on Friday evening. This information was shared with CoinDesk by an informed source.
Trump’s team and World Liberty Financial failed to provide an immediate response to the request for a comment.
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2025-01-18 05:18