Justin Sun to Attend Trump’s Crypto Dinner as SEC Chair Faces Memecoin Probe
Sun publicly expressed excitement about attending the gala dinner as Trump’s “TOP fan” and discussing the future of the crypto industry.
Watchdog group Accountable.US raised concerns about corruption and foreign influence, with Executive Director Tony Carrk warning the token competition creates opportunities for foreign state and corporate influence over Trump with “little oversight”.
SEC Chair Paul Atkins faced questioning at a House Appropriations Committee hearing about Trump’s memecoin ventures and Sun’s involvement, responding that memecoins are merely “collectibles” outside securities jurisdiction rather than regulated securities.
It’s 2025, and not much can shock anymore. So learning that Tron founder Justin Sun is also the largest TRUMP memecoin holder is just another day in the world of Trump’s second term.
As the biggest holder, Sun now has prime access to the US President via a crypto dinner. That’s an interesting turn of events considering the US Securities and Exchange Commission (SEC) had been after Sun only recently.
A case involving civil-fraud charges was paused for 60 days after Sun invested millions in the Trump-affiliated World Liberty Financial’s WLFI token.
URGENT: The Curious Case of Justin Sun and Trump’s Crypto Token.
March 2023: The SEC charges crypto mogul Justin Sun with fraud.
December 2024: Sun buys $30 million worth of Trump’s WLF crypto token
February 2025: The SEC pauses legal action against Sun, stating they’re… pic.twitter.com/L6q3uGV2ac
— Brian Krassenstein (@krassenstein) May 20, 2025
Sun Fired Up to Attend Crypto Dinner
Sun, who holds US$18.6 million (AU$28.8 million) worth of the presidential memecoin, took to Crypto Twitter and said that he was “[h]onored to support POTUS and grateful for the invitation from GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!”
Read also: Tax and Legal Experts Urge Caution Despite Court’s Bitcoin-as-Cash Ruling
He added how he was looking forward to discussing the future of crypto (an probably his own?):
As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry.
While no doubt good for Sun and maybe even good for crypto, it nevertheless raises ethical concerns. Or as Watchdog group Accountable.US called it: “corruption unfold[ing] in real time”.
Tony Carrk, executive director of Accountable.US warned that the token competition would likely open venues for foreign state and corporate influence over Trump, with “little oversight”.
This dubious situation perfectly sums up why this $TRUMP coin competition was always going to become a magnet for foreign influence, unprecedented self-dealing and next level swampiness.
SEC Chair Faces Questions About Sun, Trump and Memecoin
Meanwhile, SEC Chair Paul Atkins had to endure some questions of his own at Tuesday’s House Appropriations Committee hearing, which also looked into Trump’s memecoin venture and his family’s ties to Sun.
Atkins was pressed by lawmakers like Rep. Glenn Ivey, who warned that the Trump family’s memecoin launches and subsequent “dumps” do “smell very bad” and questioned Justin Sun’s continued support despite the ongoing case.
Atkins responded that memecoins are simply new “collectibles” outside the jurisdiction of securities law and vowed to pursue crypto oversight through “notice and comment rulemaking rather than regulation via enforcement”.
Related: SEC Delays Several Crypto ETFs, Stalls on DOGE, SOL, XRP Filings
The post Justin Sun to Attend Trump’s Crypto Dinner as SEC Chair Faces Memecoin Probe appeared first on Crypto News Australia.
Filed under: Bitcoin - @ May 21, 2025 4:25 am