From Wrapped Bitcoin To Justin Sun: Trump’s Crypto Platform Executes Major $10 Million Swap

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	22,389,612,819	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

22,389,612,819

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00162	0.63%	0.258769	0.258646	0.258754

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00162

0.63%

0.258769

0.258646

0.258754

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.25898	0.077142	0.257149	0.257149	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.25898

0.077142

0.257149

- - -

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	01:31:40	35.19	0.258855	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

01:31:40

35.19

0.258855

USD

Price x Volume	Volume	Base Symbol	Related Pairs
16,698.52	64,715.54	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

16,698.52

64,715.54

From Wrapped Bitcoin To Justin Sun: Trump’s Crypto Platform Executes Major $10 Million Swap

20/12/2024 5:30am

NEWSBTC

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). Additionally, Nansen’s data indicates that the project’s wallets received around $250,000 in ONDO, a token from Ondo Finance, which specializes in tokenization. The backdrop of these transactions is marked by controversy, particularly following a backlash triggered by a strategic partnership between Sun’s BiT Global and crypto custody firm BitGo, the operator of Wrapped Bitcoin. 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. Despite the promotional efforts by Trump and his sons, World Liberty Financial has faced challenges in the market, with sales reportedly falling 93% short of projections. This lack of traction raises questions about the project’s viability and its ability to fulfill its ambitious promises of transforming the financial landscape. At the time of writing, the total crypto market capitalization has fallen to the $3.3 trillion mark, after hitting an all-time high of $3.73 trillion on Tuesday, which also pushed the price of Bitcoin to a new record above $108,000. Featured image from RFI, chart from TradingView.com

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