Blockchain founder Justin Sun has invested $30 million into President-elect Donald Trump's crypto project, World Liberty Financial.
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.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.
But Trump's hotel rooms and office space have relatively fixed prices, and costs that cut into total profits. 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.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