Crypto Billionaire Justin Sun Claims Top Trump Memecoin Holding Ahead of Exclusive Gala

Justin Sun, a Chinese cryptocurrency entrepreneur under SEC fraud investigation, has confirmed he is the top holder of President Donald Trump's $TRUMP memecoin, holding nearly $20 million worth of the token. Sun announced he will attend an exclusive gala dinner hosted by Trump at his golf club, reserved for the top 220 memecoin investors, with a private reception for the 25 largest holders. The event has sparked bipartisan backlash amid concerns that it effectively auctions access to Trump, potentially enabling attendees to curry political favor, though the White House denies any conflict of interest. Blockchain analysis verified Sun's wallet accumulated over 1.5 million $TRUMP tokens, increasing holdings even after the token’s price surged following the gala announcement. Sun’s involvement deepens his ties to the Trump family’s crypto ventures, including the World Liberty Financial token, despite his ongoing legal issues with the SEC related to unregistered crypto token sales. Government watchdogs have criticized the gala as a blatant self-enrichment scheme that blurs politics and business, heightening ethical concerns around the intersection of cryptocurrency and political influence.