Trump’s Crypto Project Buys Tokens Associated With Justin Sun
- Tokens involved have been at a center of a legal dispute
- Sun invested $30 million earlier in the Trump-backed platform
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Donald Trump’s crypto platform, World Liberty Financial, appears to have exchanged roughly $10 million of what’s known as wrapped Bitcoin launched through Coinbase Global Inc. for similar tokens associated with project adviser Justin Sun.
A digital wallet belonging to the project on Wednesday swapped their entire holding of 103 cbBTC tokens for WBTC, the first widely adopted Bitcoin offshoot, according to blockchain data analytics firm Nansen. Wrapped Bitcoin tokens allow Bitcoin holders to participate in decentralized finance activities on the Ethereum blockchain. World Liberty has been promoted as a DeFi lending platform, though it hasn’t become operational yet.