Banana auction billionaire’s $30 million investment in Trump’s crypto token highlights new ways to enrich president-elect
Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, China, on Friday, May 8, 2020.
Calvin Sit | Bloomberg | Getty Images
Tron blockchain founder Justin Sun has invested $30 million into Donald Trump’s crypto project, World Liberty Financial, he announced Monday.
“We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor,” Sun wrote in a post on X.
Sun recently made national headlines when he spent $6.2 million at a Sotheby’s auction for a banana duct-taped to a wall.
World Liberty Financial, the Trump-branded crypto platform, aspires to be a sort of digital asset bank, where customers will be encouraged to borrow, lend and invest in digital coins.
Trump has licensed his name and promotional considerations to the venture through an LLC, with no assumption of liability. In exchange, Trump’s LLC received billions of tokens and the right to 75% of revenues above a $30 million threshold.
The platform launched a WLFI token last month, and said in a roadmap that it was looking to raise $300 million at a $1.5 billion valuation in its initial sale.
Before Sun’s investment, $21.2 million worth of the token had been sold. As of Monday afternoon, $51.2 million worth of the token had been sold, according to its website. Sales now appear to have crossed the $30 million threshold to trigger revenue distribution to Trump’s LLC.
“The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump ! TRON is committed to making America great again and leading innovation. Let’s go!” added Sun.
WLFI co-founder Zachary Folkman has said “well over 100,000 people” are on the whitelist to invest in the token. But as of Monday afternoon, only about 20,400 unique wallet addresses hold the token, according to blockchain data tracked by Etherscan, representing roughly 20% of the total number of people who registered.
“There have been a number of similarly significant purchases in recent weeks, and we are confident about future success and building out something that helps to make finance freer and fairer,” Folkman said in a statement. “We expect more such developments to happen in the coming weeks and months.”
While Trump does not take office until January, Sun’s investment in WLFI, and the revenue it appears to direct to Trump’s LLC under the terms disclosed, highlights the way Trump’s newer business ventures, like his social media company Trump Media Technology Group and this crypto venture, could offer more direct opportunities for individuals to enrich the president-elect than Trump’s hotels and office buildings did.
During Trump’s first term in office, there were near constant questions about whether foreign governments’ lavish spending on rooms and banquets at Trump’s Washington, D.C. hotel amounted to violations of the Constitution’s “emoluments clause.”
The clause bars federal office holders from accepting payments or things of value from foreign governments and their representatives.
But Trump’s hotel rooms and office space have relatively fixed prices, and costs that cut into total profits.
By contrast, the investors in Trump’s newer ventures — as demonstrated by Sun’s token purchase — can inject tens of millions of dollars, instantly, with little to no cost to Trump.
Spokespeople for the Trump presidential transition, World Liberty Financial and Sun’s Tron did not immediately reply to requests for comment.
Sun’s purchase comes as Trump actively works to assemble his list of appointees. The president-elect wrapped up cabinet appointments over the weekend and has since moved on to other agency and department leaders.
Coinbase CEO Brian Armstrong reportedly met with Trump to discuss appointments on Nov. 18. Within a day, conversations swirled about the potential for Trump to create the White House’s first crypto czar.
By the end of the week, longtime crypto foe and SEC chairman Gary Gensler, whose term doesn’t expire until June 2026, announced he would be retiring on Inauguration Day.
Trump has yet to select a nominee to lead the SEC in Gensler’s place. Under new leadership, the securities regulator could choose to drop some of its enforcement actions against major crypto ventures. It’s unclear how Tron’s case could be impacted.
In March 2023, the commission unveiled fraud and unregistered securities charges against Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy.
The SEC alleged that Sun engaged in fraud by manipulating the trading activity of the two tokens, creating the appearance of active trading when it did not exist. The unregistered offer and sale charges, on the other hand, are similar to charges the SEC has unveiled against other crypto offerings and exchanges, including Genesis, Gemini, Coinbase, Binance, and Kraken.
The crypto industry showed up in force this election cycle. Several notable sector leaders including Gemini co-founders Tyler and Cameron Winklevoss, as well as multiple C-suite executives from crypto firms battling the SEC, donated to PACs supporting the Trump campaign.
We’ve got huge news in the 4X4 Ford world with the launch of the first-ever all electric Ford Bronco. Plus, we’ve got a new long-wheelbase Model Y from Tesla and a full-scale d*ck-measuring contest in the world of full self driving. All this and more on today’s episode of Quick Charge!
We’ve also got a $300 million investment from Uber into Tesla Robotaxi rivals Lucid and Nuro and a suitably rapid successor to Lancia’s legendary HF nameplate – that could be an ideal new-age Neon, if Stellantis grows the stones to bring it Stateside.
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Some of the best financing deals on EVs are offering 0% APR for up to 72 months, and if you combine that with an electric car eligible for the $7,500 federal tax credit, you get a pretty solid deal if you’re looking to buy.
However, the EV federal tax credit dies a premature, unnecessary death on September 30, 2025, thanks to the Republican-controlled Congress, so check out the best EV financing deals below that our friends at CarsDirect have surfaced.
2024 Acura ZDX – 0% APR For 72 Months + up to $10,000 cash
It’s not every day you can pair 0% APR for six years with up to $10,000 in savings, but that’s what’s on the table for the 2024 Acura ZDX through September 2.
For the A-Spec trim with all-wheel drive, buyers get $6,000 off the MSRP. Go with rear-wheel drive, and that drops to $3,500. The Type S also gets a $2,500 cut.
If you own an Acura or a competing brand, there’s an extra $4,000 loyalty or conquest cash offer in the mix.
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2025 Toyota bZ4X – 0% APR For 72 Months + $2,500 cash
In many regions, Toyota is offering 0% APR plus $2,500 in bonus cash on the 2025 bZ4X when you finance through Toyota Financial Services. That $2,500 is basically a rebate tied to Toyota’s promotional interest rate.
This offer wraps up August 4, so if the bZ4X is on your list, now’s a good time to make a move.
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The 2025 Subaru Solterra is sticking with its usual deep-discount playbook of 0% APR for 72 months through July 31. But there’s a lesser-known perk worth flagging.
According to a national dealer incentive bulletin, Subaru is also kicking in $2,500 in dealer cash. You can stack it with the 0% financing deal, but don’t expect it to be plastered all over ads – it’s a behind-the-scenes offer, so shopping around could pay off.
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2025 Honda Prologue – 0% APR + $11,500 cash
Through September 2, Honda’s got one of the most generous EV deals around on the 2025 Prologue: 0% APR plus up to $11,500 in bonus cash.
Here’s how it breaks down if you finance through Honda Financial Services: $5,500 in cash off the top, a $3,500 loyalty or conquest bonus if you already drive a Honda (or are switching from a competitor), and another $2,500 on top of that. It’s all stackable. Plus, the 2024 Honda Prologue is eligible for a $7,500 federal tax credit on purchases.
The catch? You need to live in California or another ZEV state to get the full package. But even outside those areas, Honda’s still offering solid cash incentives that make the Prologue well worth a look.
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2025 Ford Mustang Mach-E – 0% APR + $0 Down + 0 payments for 90 days
Ford’s rolling out a “zero-zero-zero” deal on the 2025 Mustang Mach-E: You get 0% APR for 60 months, $0 down, and no payments for the first 90 days.
To sweeten the deal, Ford is throwing in a free home charger plus free installation. If you’re already set up with home charging or just not interested, you can opt for an extra $500 bonus instead.
For a popular EV like the Mach-E, this is one of Ford’s most aggressive financing offers in a while, especially with that no-payment cushion built in.
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Subaru today launched its compact AWD SUV at an event in New York City. With 300 miles of range, NACS charge port, a speedy 0-60 time of under 5 seconds, you could say that this is Subaru’s first modern EV, no offense to the rebadged Toyota BZ/Solterra…
The exterior looks a bit like a $100K Lotus Eletre with an off road flair. Uncharted will compete with Volvo’s EX30 Rivian’s R2S and other AWD EVs that might not be as rugged like the VW ID.4, Hyundai Kona and even the Chevy Equinox. Subaru’s lighting signature, shared with the 2026 Solterra and Trailseeker, along with its aggressive, rugged off-road styling will set it apart from the crowd.
It features new 18- or 20-inch wheel designs, as well as a high-contrast, available two-tone roof on Uncharted GT for enhanced curb appeal. At the rear, the sleek combination lamps, black badging, high beltline, and seamless rear design, complemented by a silver-painted lower rear fascia, add to the visual presence of the Uncharted. Low-profile roof rails on all-wheel-drive models add more options for carrying gear.
A NACS charge port with speeds up to 150 kW ensures convenient and fast charging options at more than 15,000 Tesla Supercharger stations nationwide. Even in cold weather conditions, the Uncharted can recharge its battery from 10% to 80% in nearly 30 minutes thanks to an onboard battery preconditioning system. At home, you can charge up to 11KW level 2 charging.
The interior is modern Subaru with rugged textile around a big 14-inch CarPlay/Android Auto screen experience (pictured below). There are 2 wireless phone chargers up front and 2 USB-C chargers in the rear.
All trim levels of the Subaru Uncharted are equipped with an All-Weather Package, including heated front seats, heated exterior mirrors, and windshield wiper de-icer; power rear gate; interior ambient lighting; and DriverFocus® Distraction Mitigation System. The Uncharted Sport adds X-MODE® Dual-Mode with Grip Control, heated steering wheel, StarTex® water-repellent upholstery, panoramic view monitor, and more. Uncharted GT will include a panoramic moonroof with motorized shade, 20-inch wheels, ventilated front seats, Harman Kardon® premium audio system, smart rearview mirror, and more.
The Uncharted battery is just under 75kWh, around the same size as a long range Tesla Model Y and it will get close to 300 miles in its FWD model (boo). Uncharted Sport and GT models are equipped with standard Subaru Symmetrical All-Wheel Drive with X-MODE, an anticipated range of up to 290 miles, and 338 horsepower which will appeal to more Subaru customers.
Full gallery below:
Electrek’s take
While Subaru maintains its close relationship with Toyota in EVs, and this is a C-HR rebadge, the Uncharted breaks some new ground. I love the NACS port, I love the range and the acceleration. Subaru’s fans might finally have an EV they can upgrade their ICE vehicle for.
That’s one thing that might be concerning for Subaru in the EV age: In ICE vehicles, Subaru makes one of the best, complicated AWD systems. However with EVs, AWD is almost table stakes at this point. Subaru will have to continue to innovate in the off road capable small SUV segment if it hopes to compete with all of the EV encombants. At this point, Subaru is a suspension and branding mod for Toyota.
The Uncharted certainly seems to be a good start.
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