Ah, the grand spectacle of our times! After a whirlwind of whispers and wild conjectures among the crypto aficionados and the ever-curious news hounds, the illustrious Tron founder, Justin Sun, has emerged from the shadows to declare that he is indeed the proud owner of the wallet that snatched up the largest stash of Donald Trump’s memecoin. Yes, folks, this audacious move has earned him a coveted seat at the dinner table with none other than the President of the United States! 🍽️
In a post on May 19, Sun, with all the flair of a showman, announced that he had received an invitation to dine with Trump at his opulent golf club just outside Washington, DC. This invitation is a reward for the top 220 memecoin holders. Sun, under the username “Sun” (how original!), claims to control the top wallet on the TRUMP token leaderboard, boasting a staggering $19 million worth of this digital currency at a price of $13.20. Talk about a dinner reservation that comes with a side of bling! 💰
What’s on the agenda for this illustrious dinner on May 22? Sun plans to rub elbows, “talk crypto,” and “discuss the future” of the industry. One can only wonder why he chose this moment to announce his attendance, especially since the leaderboard was finalized on May 12. Timing is everything, right? ⏰
CryptoMoon, in its relentless pursuit of the truth, reached out to Sun’s spokesperson for a comment, but alas, silence reigned supreme at the time of publication. Perhaps they were busy polishing their memecoin? 🤷♂️
While many had their suspicions about Sun being the mastermind behind the memecoin purchases, his attendance at this dinner only serves to tighten the bonds between him and the Trump administration, not to mention the president’s family. In addition to the dinner for the 220 token holders, Trump has promised a “VIP tour” for the top 25 wallets on the leaderboard. Because who doesn’t want a personal tour of the Trump empire? 🏰
Sun, in a display of financial prowess, has splurged $75 million on tokens through World Liberty Financial, a crypto platform backed by Trump’s three sons. This includes a jaw-dropping $30 million investment just weeks after the 2024 election. And let’s not forget, our dear Tron founder is also an adviser to this illustrious company. What a tangled web we weave! 🕸️
Before Trump’s victory in November, Sun was entangled in a lawsuit from the US Securities and Exchange Commission (SEC) over the alleged “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.” In a twist of fate, just a month after Trump took office, the SEC and Sun jointly filed a motion to stay the case, which was granted. Coincidence? I think not! 😏
Memecoin’s potential conflicts of interest are affecting Congress
Sun’s escapades in Trump’s crypto ventures have sparked a chorus of calls for investigations and oversight from many Democratic lawmakers. They argue that some individuals might be using digital assets to essentially buy influence with the president. How quaint! This concern initially slowed progress on a bill to regulate stablecoins in the Senate, the GENIUS Act, complicated by World Liberty Financial’s own stablecoin, USD1. But fear not! The chamber voted to move forward on the bill on May 19, just hours before Sun’s grand announcement. Timing is everything, right? 😜
“How convenient: the day after the Senate advances the GENIUS Act, Justin Sun — a major investor in the Trump family crypto venture — announces he’s getting a private dinner as the president’s top crypto buyer,” quipped Massachusetts Senator Elizabeth Warren, according to Bloomberg. “It’s critical that everyone understands the GENIUS Act doesn’t stop this type of corruption — it greenlights it.” Touché! 🎤
At a May 20 oversight hearing, Maryland Representative Glenn Ivey grilled SEC Chair Paul Atkins about Sun’s case being stayed, as well as his investments in World Liberty Financial and Trump’s memecoin. Although the case was stayed before Atkins took the chair, Ivey expressed concern about the timeline between Sun’s investments and the SEC’s apparent lack of action. A curious case indeed! 🔍
As for the memecoin dinner applicants, they are likely still subject to background checks before they can bask in Trump’s presence. As of May 20, those planning to attend include Kronos Research chief investment officer Vincent Liu, Hyperithm co-CEO Oh Sangrok, Synthetix founder Kain Warwick, a consultant named Vincent Deriu, crypto user Morten Christensen, a World Liberty Financial adviser going by the pseudonym “Ogle,” and a representative from the startup MemeCore. Quite the eclectic mix, wouldn’t you say? 🎉
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2025-05-21 00:13