As Justin Sun stakes nearly $100 million on Trump's crypto empire, new meme coins like MIND of Pepe are gaining momentum ahead of their exchange listings

The cryptocurrency world is no stranger to spectacle, but few stories have blended politics, money, and meme culture quite like the recent events surrounding the $TRUMP meme coin.

As Justin Sun's nearly $100 million wager on Trump's crypto empire unfolds, new meme coins like MIND of Pepe are amassing huge presale sums ahead of exchange listings. But as these tokens gain momentum, they also raise interesting questions about influence, decentralisation, and the future of memetic investing.

In the ever-shifting realm of cryptocurrency, where news cycles move rapidly and meme culture holds significant sway, few stories have managed to blend these elements as seamlessly as the recent developments surrounding $TRUMP meme coin and the new generation of AI-powered tokens.

After a sweepstakes competition to win dinner with former President Trump reached its peak, Tron founder Justin Sun emerged as the top contributor, securing the coveted gala invitation.

However, the final tally of Sun's contributions to $TRUMP and World Liberty Financial (WLF) – a Trump-aligned crypto platform – reveals an even greater financial commitment than initially anticipated.

According to reports by Live Coins, Sun's total exposure to Trump's digital asset ventures now exceeds $93 million. This includes $18.6 million in $TRUMP tokens and a $75 million investment in WLF, a move that has raised eyebrows among industry observers.

The contributions began in March when Trump announced a search for the individual who had made the greatest contribution to his namesake token. By April, the competition reached its climax, with the former president extending a personal invitation for dinner at his Mar-a-Lago estate.

To qualify for the gala dinner and VIP reception at the sprawling Palm Beach resort, candidates needed to contribute at least $1 million to Trump-associated entities by May 1.

The candidates and contribution amounts were displayed on a public leaderboard, with an initial contribution threshold of $500,000 required to enter the running.

As the competition progressed, the minimum contribution incrementally increased, eventually reaching $1 million to qualify for the gala dinner and VIP reception at Trump's Mar-a-Lago resort.

Among the other notable contributors were cryptocurrency exchange CEO Changpeng Zhao, also known as "CZ," and an anonymous donor who used a pseudonymous crypto wallet. Both contributed $3 million to Trump's token ventures.

The candidates and contribution amounts were closely monitored by watchdog groups, who expressed concerns over foreign influence in U.S. politics.

Accountable.US, a nonpartisan watchdog group, described the competition as a "magnet for foreign influence" and an indication of "next-level swampiness." The group also highlighted Sun's previous legal troubles with the SEC, which are still ongoing.

The U.S. senators are growing increasingly worried about crypto-related conflicts of interest in government affairs, especially amid concerns over foreign interference in the 2024 presidential election.

Democratic senators are now calling for new legislation to be introduced, aiming to curb crypto-related conflicts of interest in government.

Senator Blumenthal, a member of the Senate Banking Committee, is spearheading the move to introduce legislation focused on crypto-related conflicts of interest in government.

The calls for legislation come after a foreign state-linked entity reportedly engaged in a pump-and-dump scheme to inflate the price of $TRUMP tokens before attempting to sell a large portion of its holdings.

However, the identity of the foreign state and the entity involved in the alleged scheme remain unclear.

Additionally, Democratic senators are demanding an investigation into World Liberty Financial (WLF), a crypto platform founded by former President Donald Trump, to determine the involvement of foreign capital and federal regulators in the platform's operations.

In a joint statement, senators Elizabeth Warren, a member of the Senate Banking Committee, and Mike Monahan, the chairman of the Senate Homeland Security and Governmental Affairs Committee, expressed concerns over foreign capital flowing into Trump's crypto ventures.

The senators also pointed out the lack of transparency in WLF's operations and its failure to disclose the source of the capital used to launch the platform.

The senators' statement follows reports of several U.S. senators engaging in activities related to crypto firms during the current administration.

Senator Elizabeth Warren previously raised concerns about the potential for foreign interference in the U.S. political system through crypto donations.

Meanwhile, Democratic senators are proposing legislation to restrict crypto-related lobbying in government.

Senator Blumenthal is working on introducing legislation focused on curbing crypto-related conflicts of interest in government, while Senator Schumer is focused on broader legislation to counter foreign interference in U.S. elections.

The move comes after a foreign state-linked entity allegedly engaged in a pump-and-dump scheme to inflate the price of $TRUMP tokens before attempting to sell a large portion of its holdings.

However, the identity of the foreign state and the entity involved in the alleged scheme remain undisclosed.

Despite the unfolding political drama, $TRUMP tokens saw a 2% rise on Tuesday, reaching $13.27 and bringing the token’s market cap to