TRON Founder Justin Sun Invests $100 Million in Trump’s TRUMP Cryptocurrency

TRON founder Justin Sun has made a significant move in the political memecoin arena by pledging to purchase $100 million worth of Donald Trump’s official cryptocurrency, TRUMP. This announcement underscores Sun’s confidence in the future of crypto and his commitment to fostering collaboration across different ecosystems within the crypto landscape. Sun’s statement on X emphasized his belief in the potential of TRUMP and TRON to drive growth and innovation in the crypto community, particularly in collaboration with communities like GetTrumpMemes.

This investment follows TRON’s recent announcement that it will launch TRUMP on its blockchain, aiming to enhance interoperability and market access for the meme coin. Sun has been a vocal supporter of various Trump-linked crypto projects and appears to be deepening his involvement in Trump-affiliated businesses. The integration of TRUMP on the TRON blockchain is expected to facilitate seamless transactions and connectivity, leveraging LayerZero’s interoperability infrastructure.

TRON’s robust transaction volume, which surpassed that of Ethereum’s USDT transactions by more than five times last week, indicates that the blockchain has the capacity to handle the expansion of TRUMP. Despite recent price fluctuations, TRUMP’s circulating market cap of $1.7 billion suggests that it has the potential to benefit from increased market access and interoperability. However, the meme coin’s price has been on a downward trend, and it remains to be seen whether this partnership will spur significant gains for TRUMP.

Sun’s support for Trump-backed crypto projects has not been without controversy. The crypto company has faced legal challenges in the US, including a fraud case involving the sale of TRX and BTT tokens through unregistered bounty programs. Despite these issues, the new, more crypto-friendly US Securities and Exchange Commission (SEC) seems inclined to settle the case. This development comes after Sun increased his stake in World Liberty Financial, the crypto bank run by the Trump family, and acquired a significant amount of TRUMP tokens.

The relationship between Sun and the Trump family has had its ups and downs. While Sun has been involved in various Trump-affiliated projects, there have been reports of tension and disagreements. For instance, Eric Trump denied involvement in TRON’s plans to pursue a public offering in the US. Additionally, Tether’s decision to freeze over $12.3 million of digital assets on the Tron Network has caused some friction, as it continues its efforts to combat illicit activities in the crypto space.