In this news:
Controversial crypto entrepreneur Justin Sun was among the high-profile attendees at a grand dinner hosted by US President Donald Trump on Thursday, organised to honour the top 220 holders of Trump’s Memecoin. The top 25 investors were given access to a special reception with the President before the dinner and were shortlisted for an exclusive White House tour.
Sun, the founder of the Tron blockchain, attended the event even as he continues to face legal proceedings in the United States over alleged market manipulation. During the event, he was introduced as a speaker by Bill Zanker, one of the organisers.
Originally from China, Sun now holds citizenship of Saint Kitts and Nevis. He is known for his eccentric lifestyle and for spending millions on bizarre art purchases, including a $6.2 million installation involving a banana taped to a wall, which he later ate. He claims to be among the top holders of Trump’s Memecoin and is an active voice within the digital asset community.
In 2023, the US Securities and Exchange Commission (SEC) filed a case against Sun, accusing him of selling unregistered securities through his companies—the Tron Foundation, BitTorrent Foundation, and Rainberry Inc.—and of hiring celebrities to promote his tokens without disclosures.
Beyond the Memecoin, Sun has invested $75 million in WLFI, a digital asset linked to Trump and his family. As an early adviser to the project, his financial backing is believed to have played a crucial role in launching the token.
As the top holder of $TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner by @GetTrumpMemes.
Thank you @POTUS for your unwavering support of our industry!#MakeCryptoGreatAgain🇺🇸 /Yy2TuWEgzT
— H.E. Justin Sun 🍌 (@justinsuntron) May 23, 2025
At the dinner, Sun praised Trump’s stance on cryptocurrencies and called on the wider crypto community to support him. He expressed gratitude to the Republican leader for what he described as "unwavering support" for the sector.
There are now reports that the SEC might pause the case against Sun following the departure of former chairman Gary Gensler. According to Bloomberg, this legal shift could be among the significant developments since Trump returned to office in January.
However, the event has triggered sharp criticism from Democrats. Senators Elizabeth Warren and Adam Schiff have demanded an ethics probe, labelling the dinner a “pay to play” event and raising concerns about foreign influence, as many top Memecoin holders are believed to be non-US citizens.
The White House responded by distancing itself from the event, asserting that Trump attended the gala in a personal capacity and that his Memecoin activities are unrelated to the administration.
.png)
