Justin Sun–co-founder of TRON, billionaire, and collector of fine arts was revealed as the biggest holder of President Trump’s memecoin, earning him the top spot at Trump’s crypto dinner. Justin Sun owns 1.4 million TRUMP tokens, amounting to around $19 million. There was much speculation as to the identity of the top holder of the memecoin TRUMP. The crypto dinner was arranged for top holders to converse with the president. The dinner is considered controversial because it appears that Trump is using his position in office to enrich himself financially.

Sun described himself as a top fan of Donald Trump. The meme coin dinner will be held at Trump’s DC golf course, and the top 220 meme coin holders will be invited. Sun is looking forward to the event and said it will be a good opportunity to connect with everyone and discuss the future of cryptocurrencies. The TRUMP meme coin website ranked the top holder as “Sun.” However, until now, there has been no confirmation that the name referred to the billionaire Justin Sun.

Sun has also invested $75 million into World Liberty Financial, a Trump-linked blockchain, described by Trump’s sons as a decentralized bank that will improve access to financial services. Sun, therefore, has invested over $90 million into the Trump empire, taking into account the recent memecoin dinner that costs around $19 million. World Liberty Financial is heavily associated with the Trump family, with 75% of the proceeds going to Trump-owned businesses. Sun, who co-founded the TRON blockchain ecosystem, was born in China and was hand-picked by Jack Ma to attend his elite university for entrepreneurs.

The memecoin dinner has been blasted by critics, particularly Democrats, who see the TRUMP dinner as a blatant form of corruption. The Trump administration has been very supportive of the crypto industry. The SEC has dropped many high-profile cases, such as those against Ripple Labs and Coinbase. Many cases are being dropped, with the recent repositioning of the American justice system. Sun may use the opportunity to talk about regulatory changes. There are many opportunities for crypto businesses to take advantage of the changing attitude towards cryptocurrencies. American regulators charged Sun in 2023 with market manipulation and offering unregulated securities. Local news outlets also allege that the FBI was investigating Sun. These efforts by American law enforcement would have prevented Sun from attending the memecoin dinner.

The TRUMP meme coin ranked the top holders to ascertain who would get access to the meme coin dinner. The top coin belonged to the exchange HTX. However, it was further speculated that the wallet belonged to Justin Sun because it was labeled “Sun.” Justin Sun acts as an advisor for the HTX exchange. It is now confirmed that Sun is the owner of the TRUMP address. The meme coin was released in January. Sun, who initially purchased 800,000 TRUMP tokens, now owns around 1.4 million TRUMP tokens.

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Filed under: Bitcoin - @ May 22, 2025 8:23 am