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Trump’s World Liberty Financial Partners With Sui for Strategic SUI Reserve

Highlights:

  • World Liberty Financial partners with Sui to create the Strategic SUI Reserve.
  • Eric Trump highlights Sui’s scalability and innovation as key factors in the partnership.
  • SUI has surged 14% following the announcement to trade at $2.85. 

Sui, a fast-growing Layer 1 blockchain, has announced a major partnership with Donald Trump’s World Liberty Financial (WLFI). The collaboration will result in the creation of the Strategic SUI Reserve, which aims to spur blockchain adoption in the decentralized finance (DeFi) space. WLFI will incorporate Sui’s technology into its financial objectives, emphasizing scalability and innovation.

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WLFI’s Web3 Ambassador, Eric Trump, highlighted efficiency as one of the primary reasons for the collaboration with Sui. According to him, WLFI is interested in the expansion of opportunities on the blockchain network. The co-founder, Zak Folkman, also reaffirmed this, noting that Sui is ideal for their intention to advance DeFi accessibility.

The founder of Mysten Labs, Evan Cheng, who originally worked on Sui, also explained the idea of this collaboration. He said that the integration of Sui’s technology with WLFI’s goals may change the way digital assets are managed and used.

Strategic SUI Reserve to Strengthen Blockchain Adoption

As part of this partnership, SUI tokens will be part of WLFI’s Strategic Reserve, a treasury concept backing promising blockchain projects. This move fits within WLFI’s long-term objectives to support financial innovation while strengthening the value of the US dollar in DeFi.

WLFI has a diverse digital asset base, with a recent $307 million transfer to Coinbase Prime for purposes of treasury management. Furthermore, the firm received $103 million in investment support to expand into the DeFi market. The relatively fast-growing platform Sui has recently exceeded $70 billion in DEX and has over 67 million user accounts. With growing institutional attention, Sui is gradually becoming one of the fastest-growing blockchains.

Besides the Strategic SUI Reserve, both entities will look for other use cases to implement across the blockchain. This aligns with their mission of helping people regain control of their financial assets and identity online.

Trump’s Expanding Crypto Ventures

The involvement of the Trump family in blockchain and cryptocurrency has attracted a lot of attention. Besides WLFI, Donald has also invested in NFT assets, memecoins, and DeFi projects. The upcoming White House’s first crypto summit has also intensified discussions regarding the administration’s role in the industry.

In addition, Trump announced the creation of the U.S. Strategic Reserve with main cryptocurrencies such as Ethereum, Solana, Ripple’s XRP, and Cardano. Although SUI was not mentioned, it was implied that more valuable cryptocurrencies would be added to the reserve. This leads to speculations of SUI’s involvement in future government-backed crypto projects.

Moreover, WLFI obtained $75 million from investments from Justin Sun, a blockchain entrepreneur and advisor to the WLFI project. Consequently, this enhances the company’s standing in the DeFi sector. Following the announcement of the partnership, SUI surged by 14%, pushing the price to $2.86. Despite the spike in the price, SUI is down over 20% over the past 30 days. It has a market cap and trading volume of $9.08 billion and $1.66 billion, respectively.

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