HONG KONG — World Liberty Financial, the Donald Trump-backed crypto project, owes much of its early success to Justin Sun, the Chinese-born crypto billionaire who became an official advisor to the project after purchasing $30 million worth of its token, WLFI, said World Liberty co-founder Zak Folkman.
Folkman remarked that, “the goal of the project is being able to create progress to actually merge traditional financial institutions with decentralized finance,” in a panel at CoinDesk’s Consensus Hong Kong conference.
For several weeks, the Trump-endorsed WLFI faced lackluster sales, failing to reach its $30 million fundraising target. The token was restricted from trading and only available to non-U.S. investors and accredited U.S. investors.
The project’s fortunes changed, however, when Sun stepped in. “This guy,” Folkman said with a gesture towards Sun, “saw that regardless of the outcome, this project is a monumental move…
