In a notable development for Donald Trump’s crypto initiative, World Liberty Financial (WL), has reportedly exchanged approximately $10 million worth of wrapped Bitcoin (WBTC) for tokens associated with project adviser Justin Sun, founder of the TRON blockchain. World Liberty Financial Links With Justin Sun In Major Token Swap According to blockchain data analytics firm Nansen, a digital wallet linked to President-elect’s World Liberty Financial swapped its entire holding of 103 cbBTC tokens for WBTC on a Wednesday operation. Wrapped Bitcoin serves as a bridge for Bitcoin (BTC) holders to engage in decentralized finance (DeFi) activities on the Ethereum (ETH) blockchain, enabling broader participation in the DeFi ecosystem. Related Reading: Crypto Expert Predicts Major Altcoin Season As Market Cap Eyes Record Levels Although World Liberty has been marketed as a decentralized finance lending platform, it has yet to become operational as it is still in early stages of development and presales of its WLF token.
Sun, a cryptocurrency entrepreneur known for his high-profile investments and attention-grabbing antics—including purchasing a banana duct-taped to a wall for $6.2 million—invested $30 million in World Liberty Financial in November, becoming an adviser to the project. His involvement appears to have pushed World Liberty past a financial threshold that could allow Trump to profit from the enterprise, potentially securing at least $15 million for the Trump family based on terms outlined in World Liberty’s "gold paper.” Trump’s Crypto Initiative Struggles The recent token swap follows World Liberty’s earlier cryptocurrency acquisitions, including significant investments in Aave (AAVE) and Chainlink (LINK).
This partnership prompted US-based crypto exchange Coinbase to seek a delisting of WBTC from its exchange due to concerns over Sun’s potential influence and control. Related Reading: Bitcoin May Surge To $200,000 By Mid-2025 Amid Mild’ Price Pullbacks: Report Earlier this month, BiT Global filed a lawsuit against Coinbase in response to the delisting, but a federal judge in California ruled in favor of Coinbase, denying BiT Global’s request for a temporary restraining order.
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