Justin Sun plans to market buy the World Liberty Financial token and ALT5 Sigma Corporation stock, with a splash of $10 million each.
Summary
- Justin Sun posted on X that he plans to invest $10 million each in ALTS ans WLFI
- Sun’s move comes amid a controversy related to a dump of WLFI tokens.
Justin Sun, a prominent crypto figure and backer of Donald Trump-backed World Liberty Financial (WLFI), shared his investment plans via social media on Sept. 5.
According to the Tron (TRX) founder, the conviction is that crypto-related stocks are currently undervalued. With the market bullish for such projects, Sun wants to take a position with a $10 million worth of the ALTS stock and WLFI tokens.
Nasdaq-listed ALT5 Sigma Corporation is a fintech company specializing in turnkey, crypto-related solutions targeted toward institutions and merchants.
The company provides blockchain-powered services for institutions eyeing tokenization, trading, clearing settlement, payment, and custody of digital assets. ALT5 Sigma, the fintech’s wholly-owned subsidiary founded in 2018, has processed more than $5 billion in cryptocurrency transactions across its two platforms – “ALT5 Pay” and “ALT5 Prime.”
Sun and World Liberty Financial
On Sept. 4, ALT5 disclosed that its holdings of WLFI had increased to 7.28 billion WLFI tokens worth over $1.3 billion.
WLFI recently launched on crypto exchanges, with an explosive debut that pushed the altcoin into the top 50 cryptocurrencies by market cap. However, the token hit some controversy after the World Liberty team froze Sun’s WLFI wallet. The decentralized finance project took the move amid claims of a $9 million token dump, with this coming amid a price dip for WLFI.
However, Sun responded on X, stating that the action to freeze his tpkens was “unreasonable.”
“I believe that a truly great financial brand must be built on fairness, transparency, and trust—not on unilateral actions that freeze investor assets,” he wrote. “Such measures not only violate the legitimate rights of investors, but also risk damaging broader confidence in World Liberty Financials.”
The WLFI token’s price hovered around $0.18 on Friday.
