After weeks of speculation between crypto lovers and news outlets, Tron founder Justin Sun claims that he owns a wallet that bought the largest amount of Donald Trump and can qualify for dinner and reception with the US president.
On the X-Post on May 19, Sun said he had invited him to attend Trump’s dinner at his golf club outside of Washington, D.C. as part of his reward for Top 220 Memocoin holders. The Tron founder claimed he controlled the top wallet of the Trump Token Leaderboard under the username “Sun”.
According to Sun, he plans a network of Memecoin dinner on May 22, “Talk Crypto,” and “Discussing the Future.” It is unclear why the Tron founder chose to announce his planned presence at the event when the leaderboard was finalized on May 12th.
Cointelegraph reached out to a spokesman for Sun for comment, but did not receive a response at the time of publication.
It’s not surprising to many who speculated that the Sun was the individual behind the purchase of Memocoin, but his attendance at dinner only deepens relations between the Trump administration and the president’s family. Trump said he will hold a reception and a “VIP tour” for the top 25 wallets on the leaderboard, in addition to dinner with 220 token holders.
Related: What to expect from Trump Memocoin Dinner
Sun spent $75 million on tokens through World Liberty Financial, a crypto platform backed by Trump’s three sons, including a $30 million investment a few weeks after the 2024 election. The founder of Tron is also an advisor to the company.
Before Trump won the November election, Sun faced a lawsuit filed in 2023 from the Securities and Exchange Commission (SEC) over “orchestration of unregistered offers and sales, manipulation transactions and illegal advertising of cryptocurrency securities.” About a month after Trump took office in February and appointed Commissioner Mark Weda as representative chairman of the SEC, regulators and SUN filed a motion to help federal judges maintain the case.
Memecoin’s potential conflict of interest is affecting Congress
The involvement of Sun and others in Trump’s crypto venture has prompted calls for investigation and oversight among many Democrats. Concerns have initially been complicated by the global Liberty Financial Stablecoin, USD1, which slowed progress on the Senate’s stylized bill, the Genius Act. The Chamber of Commerce voted to advance the bill on May 19, hours before Sun’s announcement.
“How convenient: The day after the Senate advances Genius Act, Justin Sun (a leading investor in the Trump family’s crypto venture) announced he was winning a private dinner as the president’s top crypto buyer,” said Massachusetts Senator Elizabeth Warren. “It’s important for everyone to understand that genius acts don’t stop this type of corruption. It’s greenlighting it.”
https://www.youtube.com/watch?v=VZ6HJ457IWS
During the May 20th oversight hearing, Maryland Representative Glenn Evie remained in SEC Chairman Paul Atkins’s stay in the Sun incident and investing in the world’s Liberty Financial and Trump’s Memo Committee. The lawsuit stayed before Atkins was sworn in as a chair, but Ivy expressed concern about his lack of pursuing a timeline and own enforcement action between Sun’s investment and the SEC.
Applicants for the Memecoin dinner may still be eligible for background checks before meeting Trump in person. As of May 20th, those planning to attend include Vincent Liu, Chief Investment Officer of Kronos Research, Hyperithm Co-Ceo Oh Sangrok, Synthetix founder Kain Warwick, and consultant Kain Warwick, Crypto user Morten Christensen.
magazine: Trump’s crypto ventures cause conflicts of interest, insider trading questions
