SUI soars as Trump crypto venture adds Solana rival to Bitcoin, Ethereum stash

World Liberty Financial is expanding its token holdings.

The Trump-backed DeFi task volition “explore merchandise improvement opportunities” with furniture 1 blockchain Sui, and “plans to see Sui assets successful ‘Macro Strategy,’” the project’s token stockpile.

That’s according to the Sui Foundation, which outlined the plans successful a Thursday blog post.

Sui’s autochthonal token, which has a marketplace worth of implicit $9 billion, jumped arsenic overmuch arsenic 18% connected the announcement.

The Sui woody is the latest successful a increasing database of crypto projects cosying up to World Liberty Financial, which has raised $300 million done income of its WLFI token to investors since October.

The quality comes arsenic World Liberty Financial buys up $20 cardinal worthy of alleged Wrapped Bitcoin, Ether, and Move tokens days earlier crypto executives are acceptable to sojourn the White House to sermon policy.

The Sui blockchain uses the Move programming language, and is often pinned arsenic a faster, much scalable rival to Solana. Sui has $1.5 billion worthy of crypto locked successful its DeFi protocols, per DefiLlama data.

The crypto tokens World Liberty Financial buys often payment from a surge successful capitalist interest.

Trump’s WLFI

When World Liberty bought $2 cardinal worthy of the Move blockchain’s token successful January, it soared immoderate 23%.

World Liberty Financial isn’t owned by President Donald Trump, but helium promotes it and benefits from its success.

Trump and his sons Donald Jr, Eric, and Barron person a divided of the proceeds from the project’s WLFI token income and aboriginal revenue, on with the project’s founders and collaborators, which see longtime Trump state Steven Witkoff.

‘Macro Strategy’

World Liberty Financial has been stockpiling crypto for months.

At first, it wasn’t initially wide why, but past month, onlookers received immoderate clarity erstwhile the task announced it had been gathering what it called a “strategic token reserve,” called Macro Strategy.

The reserve is intended to mitigate marketplace volatility, foster growth, and physique trust, the task said successful an X post.

However, determination whitethorn beryllium much going connected with the token reserve than the task lets on.

A February investigation by Blockworks recovered that World Liberty Financial had courted crypto teams for token swap deals.

Representatives for World Liberty Financial approached crypto teams with the connection to merchantability them astatine slightest $10 cardinal worthy of its WLFI token with a 10% fee. If accepted, World Liberty Financial past purchased the aforesaid magnitude of the buyer’s crypto token, sources told Blockworks.

Two crypto task founders besides told DL News they had been offered akin deals.

The Sui Foundation did not respond to a DL News petition for comment.

World Liberty Financial’s token reserve includes Wrapped Bitcoin and Ether, arsenic good arsenic Tron’s TRX token, Ethena’s ENA token, and Ondo Finance’s ONDO token, on with respective others.

Tim Craig is DL News’ Edinburgh-based DeFi Correspondent. Reach retired with tips astatine [email protected].