Justin Sun Becomes Top Holder of TRUMP Memecoin with $21.9 Million
Justin Sun, founder of Tron, is the largest holder of the TRUMP memecoin, with a Solana address reportedly holding approximately $21.9 million in TRUMP tokens. This positions him to attend a private dinner and VIP reception with former U.S. President Donald Trump near Washington, D.C.
- The TRUMP token launched shortly before Trump's inauguration in January, attracting criticism for its timing and allocation structure favoring insiders.
- Sun has invested $75 million into World Liberty Financial, a decentralized finance project backed by the Trump family, contributing to its perceived success.
- Democratic lawmakers have raised concerns about potential ethical violations related to Trump's crypto initiatives, proposing legislation to restrict public officials from endorsing digital assets.
- The White House dismissed these allegations as partisan attacks, emphasizing no conflict of interest.
- The TRUMP token experienced an 8.3% increase in value over the past 24 hours, currently trading at $14.40.
- This event coincides with Bitcoin Pizza Day, celebrating one of the first Bitcoin transactions.