- World Liberty Financial aims to acquire TRX tokens for its treasury.
- Justin Sun advises World Liberty Financial, increasing Tron’s influence.
- Tron will sponsor the inaugural crypto gala during Trump’s ceremony.
Trump-backed World Liberty Financial has announced its plan to acquire TRX tokens for its treasury. This latest move reflects the project’s deepening ties to the Tron network and its push to offer widespread crypto-financial services.
World Liberty Financial aims to acquire TRX tokens
World Liberty Financial, a crypto project backed by the Trump family, is planning to acquire Tron (TRX) tokens for its treasury. This move will strengthen the connection between the Trump-backed project and the Tron network. Justin Sun, the founder of Tron and the largest WLFI token holder, already plays an advisory role for World Liberty Financial.
The exact amount of TRX tokens World Liberty Financial intends to acquire remains unclear. However, the crypto project has already raised $90 million through WLFI token sales.
World Liberty Financial is positioning itself as a key player in offering crypto-financial services. The company aims to bring crypto offerings to more users, with Donald Trump as its “chief crypto advocate.” Trump’s return to the White House is expected to usher in a new era for the crypto industry, especially in terms of regulation.
Tron’s involvement with World Liberty extends beyond advisory support. A delegation from Tron is expected to attend Trump’s inauguration on January 20. The Tron network also sponsored the inaugural crypto gala in Washington, D.C., to show its support for the upcoming administration.
World Liberty Financial Treasury
World Liberty Financial’s crypto treasury has seen significant growth in recent months. The project has acquired numerous tokens such as Ethereum, AAVE and Chainlink, to diversify its holdings. Additionally, the company invested over $1 million in tokens like Ondo and Etherna, to further expand its portfolio.
The project’s blockchain wallet holds various crypto assets, including 1,213 ETH, 17.1 million USDC and 6,137 AAVE. The wallet also contains substantial holdings in WBTC, LINK and other altcoins such as UNI and PEPE. This shows World Liberty Financial’s commitment to strengthen its financial position.
Impact of the Announcement and TRX Price Action
TRX saw a surge in value, reaching a high of $0.2587 in a day following the acquisition reports. However, the token quickly lost momentum and dropped by 6.41% to $0.2421. Currently, TRX is down by 0.95% over the past day and 0.38% over the past week.
The announcement of the potential TRX acquisition highlights the growing importance of crypto projects in political and financial spheres. As Trump’s presidency is poised to influence crypto regulation, the ties between World Liberty Financial and Tron are expected to have significant implications.