In a May 19 post on X, Sun revealed that his wallet, labeled “Sun,” held around $19 million worth of TRUMP tokens, placing him at the top of the memecoin holder leaderboard and earning him an invitation alongside 219 other top investors. Additionally, the top 25 wallets will receive access to a VIP reception and special tour with Trump.
Sun said he plans to use the dinner as an opportunity to network and discuss the future of the crypto industry. However, his decision to go public with the news after the leaderboard had closed on May 12 has raised some questions.
Sun’s participation further deepens his ties with Trump and his family. He had previously invested around $75 million into crypto ventures linked to Trump’s three sons through the platform World Liberty Financial, where he also serves as an advisor.
These connections have drawn criticism from U.S. lawmakers, particularly Democrats, who are concerned about the use of digital assets to gain political influence. Senator Elizabeth Warren stated, “The day after the Senate advanced the GENIUS Act to regulate stablecoins, Justin Sun — a major investor in the Trump family’s crypto venture — announces he’s getting a private dinner with the president. This shows the bill doesn’t prevent corruption — it enables it.”
Sun is also facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) filed in 2023, accusing him of market manipulation and the illegal sale of crypto assets. After Trump’s return to office and the appointment of a new SEC chair, the case was paused by mutual agreement earlier this year.
Attendees of the memecoin dinner are still subject to background checks. Other confirmed guests include crypto leaders from South Korea, Singapore, and Europe.
