tl;dr
Justin Sun, founder of Tron, confirmed he is the top registered holder of President Donald Trump’s official Solana-based meme coin (TRUMP), holding over 1.5 million tokens worth nearly $20 million. Sun is among 220 holders vying for an invitation to Trump’s gala dinner at Trump National Golf Course ...
Tron founder Justin Sun has confirmed he is the top registered holder of President Donald Trump’s Solana-based meme coin (TRUMP), holding over 1.5 million tokens valued at nearly $20 million. This status secured him a VIP invitation to Trump’s gala dinner scheduled for May 22 at the Trump National Golf Course, along with access to an exclusive reception and special tours.
Following the gala announcement, the TRUMP token price surged, yet Sun chose to increase his holdings by acquiring an additional 359,000 tokens rather than selling, highlighting his strong commitment. Although he is not the top on-chain holder overall, Sun ranks first among verified, eligible holders for the gala and stands 24th across all Solana addresses holding the token.
Sun’s involvement with Trump-related crypto projects is longstanding; he previously invested $30 million in the World Liberty Financial DeFi protocol, which is linked to Trump. These financial activities have drawn regulatory attention alongside ongoing SEC investigations and congressional scrutiny concerning potential ethical issues and allegations of "pay-to-play" corruption regarding presidential access through the gala.
In light of these concerns, House Democrats have formally requested Treasury reports on suspicious activities related to Trump’s crypto dealings, naming Sun specifically. Despite the intensified scrutiny, Sun remains publicly confident and active within the Trump crypto community, expressing eagerness to connect, discuss crypto, and support Trump’s initiatives.
Sun’s wallet was initially associated with the crypto exchange HTX, where he serves as an advisor, but he has now openly confirmed ownership. The wallet initially received 800,000 TRUMP tokens at the meme coin’s launch in January and has since grown its holdings substantially through strategic acquisitions concurrent with the token’s price increase.
As the crypto and political spheres increasingly intertwine, Sun’s role exemplifies the complex dynamics of high-profile crypto investments amid regulatory and ethical challenges. His journey raises compelling questions about the future intersection of cryptocurrency, political influence, and governance.