As US President-elect Donald Trump prepares to take office, World Liberty Financial, a cryptocurrency initiative supported by his family, has announced plans to invest in Tron (TRX). This initiative strengthens the Trump-backed crypto project’s ties with Justin Sun’s Tron ecosystem.
However, there are no confirmations on the amount of tokens Trump’s crypto organization intends to add to its portfolio. Sun, being an advisor at World Liberty Financial and the largest holder of the WLFI token, will likely play a crucial role in the project’s TRX investment strategy.
As reported by people familiar with the matter, Trump’s World Liberty Financial has plans to expand its cryptocurrency collection with TRON investments. Though it is unclear how much TRX the entity would purchase, it is estimated that a significant portion of its profits would be used for the investment.
Since its launch in September, Trump’s crypto organization has spent about $12 million to buy assets like Ethereum (ETH), Aave, and Chainlink (LINK). Further, it’s worth mentioning that the organization has raised almost $90 million by selling its WLFI tokens. Notably, Sun, the single-largest holder of WLFI, acquired tokens worth about $30 million in November.
In a parallel development, the Digital Sovereignty Alliance, a nonprofit social welfare organization established by Tron, is backing Donald Trump’s inaugural Crypto Ball. In a recent X post, the organization announced, “Digital Sovereignty Alliance proudly sponsors the inaugural Crypto Ball, celebrating American innovation alongside President-elect Trump’s inauguration.”
Expressing appreciation for Trump’s potential inauguration and the DSA’s Crypto Ball sponsorship, Justin Sun stated,
As President-elect Donald Trump takes office, I’m excited about the opportunities for forward-thinking crypto policies that can drive growth and innovation, not just in the U.S., but across the global blockchain industry.
Following World Liberty Financial’s TRX acquisition announcement, TRON token reached a weekly high of $0.259. As of press time, the token is trading at $0.2443, marking a marginal daily surge of 0.47%. Despite a monthly loss of 7%, the TRON token gained 0.72% over the last 7 days. In addition, the 24-hour trading volume of the token has also seen a notable growth of 40%, currently at $1.33 billion.
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