Tron Founder Justin Sun Confirms He's Attending a Private Dinner with Donald Trump

Tron founder Justin Sun has confirmed that he owns the wallet that made the largest purchase of Donald Trump's memecoin, which automatically secured him an invitation to dinner with the US president.

Justin Sun, the founder of Tron, has confirmed that he is the wallet holder who made the largest purchase of Donald Trump’s memecoin, which automatically secured him an invitation to dinner with the US president.

After weeks of speculation in the crypto community and media, Sun announced on X, formerly Twitter, that he had received an invitation for dinner with Trump at his golf club near Washington, DC. The event is planned as a reward for the 220 largest holders of the TRUMP memecoin. The Tron founder claims to control the top-ranked wallet, which is registered under the username “Sun” and is said to have about $19 million in assets at a token price of $13.20.

According to Sun, he will be discussing the future of cryptocurrencies and networking at the May 22 dinner. However, it remains unclear why the Tron founder decided to announce his participation in the event only now, despite the list of attendees being finalized as early as May 12.

Many had speculated that Sun was the one behind the memecoin purchases. In addition to a dinner for 220 token holders, Trump promised a reception and a “VIP tour” for holders of the top 25 wallets on the leaderboard.

Sun has invested a total of $75 million in tokens through World Liberty Financial, a crypto platform backed by three of Trump’s sons. The founder of Tron is also an advisor to that company.

Before Trump won the November election, Sun was sued by the Securities and Exchange Commission (SEC) in 2023 for allegedly orchestrating an unregistered offer and sale, manipulative trading, and unlawful promotion of securities.

In February, about a month after Trump was inaugurated as president and Commissioner Mark Uyeda was named acting SEC chairman, the regulator and Sun jointly filed a motion to stay the case, which was granted.

The involvement of Sun and others in Trump’s cryptocurrency projects has sparked calls for investigation and oversight from several Democratic lawmakers. They argue that some individuals may be using digital assets to buy influence over the president. These concerns initially stalled the advancement of the GENIUS Act bill to regulate stablecoins in the Senate, especially since World Liberty Financial is also developing its own USD1 stablecoin.

However, the Senate voted to advance the bill on Friday, May 19, just hours before Sun's announcement.

"How convenient: the day after the Senate advances the GENIUS Act, Justin Sun—a major investor in the Trump family's crypto projects announces he's getting a private dinner with the president as the top cryptocurrency buyer," Senator Elizabeth Warren, (D-Mass), commented. "It's critical that everyone understands that the GENIUS Act doesn't stop this type of corruption—it legitimizes it."

At a May 20 oversight hearing, Maryland Rep. Glenn Ivey questioned SEC Chairman Paul Atkins about the case against Sun, as well as his investments in World Liberty Financial and Trump’s memecoin.

Although the case was suspended before Atkins took over as chairman, Ivey expressed concern over the connection between Sun's investments and the lack of enforcement action by the SEC.

Candidates for a dinner with Trump are likely still undergoing background checks before meeting the president in person. As of May 20, Trump's guest list also includes Kronos Research chief investment officer Vincent Liu, Hyperithm co-CEO Oh Sangrok, Synthetix founder Kain Warwick, consultant Vincent Deriu, cryptocurrency user Morten Christensen, World Liberty Financial advisor alias "Ogle," and a representative from startup MemeCore.