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Following weeks of conjecture among cryptocurrency aficionados and media outlets, Tron creator Justin Sun has asserted that he possesses the wallet responsible for acquiring the most substantial quantity of Donald Trump\u2019s memecoin, enabling him to gain an invitation for a dinner and reception with the US president.<\/p>\n
In a May 19 X post, Sun stated<\/a> that he had obtained an invitation to join Trump\u2019s dinner at his golf course near Washington, DC, as part of a reward for the leading 220 memecoin holders. The Tron creator alleged that he commanded the top wallet on the TRUMP token leaderboard under the username \u201cSun,\u201d which contained approximately $19 million worth of the memecoin at a rate of $13.20.<\/p>\n As per Sun, he intends to connect with others at the May 22 memecoin dinner, \u201cdiscuss crypto,\u201d and \u201cexplore the future\u201d of the sector. It remains unclear why the Tron creator opted to disclose his intended attendance at the event at this moment, particularly since the leaderboard was finalized on May 12.<\/p>\n Cointelegraph reached out to a spokesperson for Sun for remarks, but had not received a reply by the time of publication.<\/p>\n Although it was not a shock to many who speculated that Sun was the figure behind the memecoin acquisitions, his presence at the dinner further cements his affiliations with the Trump administration and the president\u2019s family. Alongside the dinner for the 220 token holders, Trump mentioned that he would host a reception and \u201cVIP tour\u201d for the top 25 wallets on the leaderboard.<\/p>\n Related: <\/strong><\/em>What to expect at Trump\u2019s memecoin dinner<\/strong><\/em><\/a><\/p>\n Sun invested $75 million in tokens<\/a> via World Liberty Financial, the crypto platform supported by Trump\u2019s three sons, including a $30 million investment shortly after the 2024 election. The Tron creator also serves as an adviser to the company.<\/p>\n Prior to Trump securing the November election, Sun had been facing litigation<\/a> from the US Securities and Exchange Commission (SEC) filed in 2023 regarding the purported \u201corchestration of the unregistered offer and sale, manipulative trading, and unlawful promotion of crypto asset securities.\u201d In February, approximately a month after Trump assumed office and designated Commissioner Mark Uyeda as acting chair of the SEC, the regulator and Sun collectively filed a motion<\/a> for a federal judge to halt the case, which was approved.<\/p>\n Sun\u2019s and others\u2019 engagement in Trump\u2019s cryptocurrency endeavors has triggered demands for investigations<\/a> and oversight from numerous Democratic lawmakers, who contended that certain individuals could exploit digital assets to essentially acquire influence with the president. The apprehensions initially slowed the progression on a bill<\/a> to regulate stablecoins in the Senate, the GENIUS Act, complicated by World Liberty Financial\u2019s own stablecoin, USD1. The chamber voted to proceed<\/a> with the bill on May 19, mere hours before Sun\u2019s announcement.<\/p>\n \u201cHow convenient: the day after the Senate advances the GENIUS Act, Justin Sun \u2014 a significant investor in the Trump family crypto venture \u2014 reveals he\u2019s getting a private dinner as the president\u2019s foremost crypto buyer,\u201d remarked<\/a> Massachusetts Senator Elizabeth Warren, as reported by Bloomberg. \u201cIt\u2019s essential that everyone recognizes the GENIUS Act doesn\u2019t prevent this kind of corruption \u2014 it legitimizes it.\u201d<\/p>\nMemecoin\u2019s potential conflicts of interest are influencing Congress<\/h2>\n