Crypto billionaire Justin Sun, the largest holder of President Trump’s $TRUMP meme coin, has been invited to a private dinner at the president’s D.C.-area golf club. Sun, who owns about 1.4 million tokens worth around $19 million, announced his attendance on X, describing himself as the president’s “TOP fan.”
The dinner is part of an exclusive event for the top 220 holders of $TRUMP, with the president also hosting a smaller reception for the token’s top 25 holders in Northern Virginia. The announcement has raised concerns about potential conflicts of interest due to Trump’s ties to World Liberty Financial and his own crypto investments.
Sun’s firm has invested tens of millions in the Trump-linked exchange, while he faces a securities lawsuit from Biden-era federal regulators over alleged manipulation of a crypto token. Despite this, Sun remains optimistic about the future of the cryptocurrency industry.
The $TRUMP meme coin was launched in January, shortly before Trump’s inauguration, and its value is largely driven by online buzz. The coin has experienced erratic price shifts, but its recent surge may be linked to speculation surrounding the dinner invitation.
As part of his efforts to promote crypto, Trump has vowed to make the US a “Crypto Capital of the World.” However, this stance has raised concerns among government watchdogs and Democratic lawmakers about potential conflicts of interest.
Source: https://www.cbsnews.com/news/crypto-billionaire-justin-sun-trump-meme-coin