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World Liberty Financial (WLFI), the cryptocurrency project backed by the family of U.S. President-elect Donald Trump, is reportedly planning to acquire Tron (TRX) tokens for its treasury, CoinDesk reported.
The move, according to sources, would strengthen the project’s existing ties to the Tron ecosystem. Justin Sun, the founder of Tron, is already an advisor to WLFI and holds a significant stake in the project, having purchased $30 million worth of WLFI tokens in November.
Details on the TRX Tokens Acquisition
While the specific quantity of TRX tokens to be added to World Liberty’s reserves remains undisclosed, the project has previously demonstrated an appetite for diversifying its portfolio.
Having raised $90 million through WLFI token sales, it has already allocated seven-figure sums into other crypto assets, including AAVE and LINK, which are tied to partner projects. These strategic investments aim to bolster World Liberty’s treasury while reinforcing partnerships within the DeFi space.
Donald Trump, who is officially listed as the “chief crypto advocate” for WLFI, has become a prominent figure in the crypto community. His return to the White House is anticipated to mark a pivotal moment for the cryptocurrency industry. WLFI, under his endorsement, seeks to offer accessible crypto-financial services to a broader audience.
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The Role of TRON
Meanwhile, the Tron ecosystem is playing a significant role in this unfolding narrative. Sources indicate that a Tron delegation will attend Trump’s presidential inauguration on Monday.
Additionally, Tron sponsored the first-ever “crypto ball,” an industry gala held in Washington, D.C., on Friday night. These developments underscore the increasing convergence of political influence and blockchain technology, with the Tron network appearing as a key partner in WLFI’s vision.
The Challenges for WLFI
Despite these high-profile collaborations and strategic investments, WLFI is grappling with financial challenges. Reports suggest that the project has faced a $4.8 million loss.
On-chain data further reveals frequent transactions from its portfolio, raising questions about its financial stability and transparency.
While WLFI and Trump’s team have yet to comment on the TRX acquisition, the potential partnership between WLFI and Tron could represent a significant step forward for both entities.
The growing political and economic influence of World Liberty Financial positions it as a unique player in the DeFi ecosystem.
The success of WLFI’s ambitious endeavours will likely hinge on its ability to navigate financial hurdles, maintain investor confidence, and leverage its strong ties to influential blockchain projects like Tron.
Also Read: Donald Trump’s WorldLibertyFi Token Sale Underwhelms, Only $10.8M Sold in 14 Hours