Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, May 8, 2020.
Calvin Sit | Bloomberg | Getty Images
Chinese-born crypto mogul Justin Sun says he’s the top holder of the $TRUMP meme token and will be having dinner with President Donald Trump.
The dinner competition — a sweepstakes offering gala access to the sitting U.S. president — was open to anyone in the world willing to spend millions of dollars on a digital coin tied to Trump.
Late Monday night, Sun posted on X that he had secured the top spot in the $TRUMP token leaderboard, which earned him an invite to a private dinner with the president, as well as a VIP reception for the top 25 holders.
“Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!” he wrote. “As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry.”
Sun now holds $18.6 million worth of the Trump-themed meme token, on top of the $75 million he previously poured into World Liberty Financial — a separate Trump-linked crypto venture his sons have described as a decentralized bank designed to expand access to the financial system. 75% of the platform’s revenue flows directly to Trump-owned entities.
Altogether, Sun’s stake in the Trump family’s crypto empire now tops $93 million.
Born in China, Sun is the crypto entrepreneur behind the Tron blockchain and is in talks with the Securities and Exchange Commission to resolve civil fraud charges.
The $TRUMP coin rose in value by about 2% on Tuesday to $13.27, according to Coinmarketcap.com. That values the circulating supply at $2.65 billion, making it the 39th most valuable cryptocurrency. Bitcoin is the most valuable at $2.1 trillion.
Like with other meme coins, there’s no underlying product. The projects website says the coins “are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. The SEC issued guidance in February saying that it does not deem most meme coins securities under U.S. federal law.
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