Donald Trump‘s World Liberty Financial intends to acquire Tron’s TRX token to diversify its portfolio and enhance its connections with Justin Sun’s ecosystem.
As President-elect Donald Trump prepares to assume office, World Liberty Financial, a cryptocurrency initiative endorsed by the Trump family, announced its plan to invest in TRON (TRX) tokens. This initiative reinforces the connections between the cryptocurrency project endorsed by Trump and Justin Sun’s Tron ecosystem.
This action can potentially enhance the relationship between World Liberty Financial and the Tron ecosystem. It is important to note that Justin Sun, the founder of Tron, currently serves as an advisor to World Liberty Financial. He additionally allocated $30 million to the initiative, establishing himself as the most significant individual holder of the WLFI token.
World Liberty Financial’s Treasury Expansion With Tron(TRX)
Trump’s World Liberty Financial intends to diversify its cryptocurrency portfolio by including investments in TRON. While the exact quantity of TRX that the entity wants to acquire remains uncertain, it is anticipated that a substantial portion of its proceeds will be allocated toward this investment.
Since its inception in September, the cryptocurrency organization associated with Trump has allocated approximately $12 million towards acquiring assets such as Ethereum (ETH), Aave, and Chainlink (LINK).
Additionally, it is noteworthy that the organization has successfully raised nearly $90 million by selling its WLFI tokens. It is notable that Sun, the predominant holder of WLFI, procured tokens valued at approximately $30 million in November.
After World Liberty Financial’s announcement regarding the acquisition of TRX, the TRON token attained a weekly peak of $0.259. The token is trading at $0.2443, reflecting a modest daily increase of 0.47%.
Notwithstanding a monthly decline of 7%, the TRON token experienced a rise of 0.72% over the past week. Also, the 24-hour trading volume of the token has experienced a significant increase of 40%, presently amounting to $1.33 billion.
