Sui announces partnership with World Liberty Financial

"Sui is excited to announce a partnership with World Liberty Financial, a pioneering DeFi protocol inspired by Donald J. Trump," reads a recent post from Sui Network on X.

Although Trump officially holds only the title "Chief Crypto Advocate" of the project, his sons, Eric and Donald Trump Jr. are listed as "Web3 ambassadors." However, the exact ownership structure of the project remains unclear.

As part of the partnership with Sui, World Liberty Financial (WLFI) stated, "WLFI will include SUI in its strategic token reserve to support leading Web3 projects." In addition, it was reported that both parties "have taken initial exploratory steps toward joint product development."

Despite the limited number of details, the SUI exchange rate reacted positively. At the time of writing, the currency stands at $2.80, up 11% from the previous day.

This is not World Liberty Financial's first collaboration with a crypto project. Last month, WLFI and Ondo Finance announced their future collaboration.

The Trump-backed company has now built a diverse portfolio of crypto assets within its token reserve. These include Wrapped Bitcoin (WBTC), Ethereum (ETH), Tron (TRX), Chainlink (LINK), MOVE and ONDO.

Last Wednesday, WLFI further expanded its holdings with the purchase of 4,468 ETH worth $10 million, 110.6 WBTC for another $10 million and 3.42 million MOVE tokens for $1.5 million.