Tron Founder Justin Sun Tops TRUMP Memecoin Holders for Trump Event

Justin Sun, the founder of the Tron blockchain, has been linked to a Solana wallet that holds a significant amount of TRUMP memecoin, securing him a spot at a private dinner and VIP reception with former U.S. President Donald Trump. The wallet, which is tagged as belonging to the cryptocurrency exchange HTX, is credited with making Sun the top holder of the TRUMP memecoin for the event.

Several blockchain explorers, including Arkham Intelligence and SolanaFM, have identified the wallet as being associated with HTX. This exchange acknowledged Sun as its leader in a 2023 blog post. The wallet holds approximately $23.3 million worth of TRUMP tokens, placing it at the top of the event’s leaderboard, which is publicly displayed on a website linked to Trump's social media account.

Sun confirmed his status as the top TRUMP holder in the sweepstake, which rewards large token holders with access to an event hosted at a Trump-owned golf club near Washington, D.C. HTX, formerly known as Huobi, was acquired by About Capital, a Hong Kong investment firm, in October 2022. Sun denied involvement in the acquisition but joined the exchange as a member of its global advisory board. Huobi later identified Sun as its leader in a blog post.

In 2023, the platform rebranded to HTX, reflecting a commitment to the Tron ecosystem. Sun’s involvement with the Trump-linked ecosystem also includes a $75 million investment in World Liberty Financial tokens, a decentralized finance initiative backed by the Trump family. Sun, a Chinese-born crypto billionaire, has faced legal challenges from the U.S. Securities and Exchange Commission (SEC) under the Biden administration, which alleged market manipulation and celebrity endorsements for his ventures. The suit has been put on hold under the Trump administration’s SEC leadership as the parties seek a potential resolution.

Donald Trump’s memecoin was launched just days before his inauguration earlier this year, sparking criticism from the crypto industry and lawmakers over its timing and allocation to Trump-affiliated insiders. The memecoin, TRUMP, is currently trading at $14.64, reflecting an 11% increase in the last 24 hours. This event highlights the intersection of cryptocurrency and political influence, with Sun’s involvement underscoring the complex dynamics within the crypto industry.