Support for Donald Trump and his family’s cryptocurrency project, World Liberty Financial (WLFI), is increasing steadily.
Tron founder Justin Sun has made significant investments in WLFI, and the decentralized stablecoin protocol Frax Finance is also contemplating investment.
In line with this, Frax Finance has expressed interest in investing up to $10 million in the WLFI spearheaded by Trump.
Frax Finance has put forth a proposal on its official website to invest a maximum of $10 million in the DeFi protocol World Liberty Financial.
The proposal includes an additional investment of $5 million, subject to the success of the initial $5 million investment.
The proposal contains the following statements:
“With the new Trump administration’s dedication to US-based DeFi projects, it is imperative for FRAX to assume its rightful position as a pioneer in this movement. As the sole DeFi project under Trump, WLFI is the perfect ally to realize this objective. President Trump envisions positioning the US as the global frontrunner in cryptocurrency, with WLFI playing a pivotal role in accomplishing his ambitions. Approving the investment in WLFI allows FRAX to broaden adoption, enhance visibility, and cement its position in the upcoming phase of US DeFi expansion.”
In response to the proposal, a community member expressed that investing $5 billion in a project lacking a proven track record was “highly risky and illogical.”
Stephen Moore, co-founder of Frax Finance, previously served as an economic advisor to Donald Trump.
*This translation is not to be construed as investment advice.