Crypto Tycoon Justin Sun Claims Top Spot in $TRUMP Token Sweepstakes, Secures Dinner with President Trump

Crypto Tycoon Justin Sun Claims Top Spot in $TRUMP Token Sweepstakes, Secures Dinner with President Trump

Chinese-born cryptocurrency mogul Justin Sun has emerged as the top holder of the controversial $TRUMP meme coin, earning him a coveted dinner invitation with President Donald Trump at his Virginia golf club, alongside other elite crypto investors.

The exclusive event, part of a sweepstakes orchestrated by the creators of the $TRUMP token, offered gala access to the highest bidders globally — specifically the top 220 token holders. Sun, who declared his victory late Monday via a post on X, now controls $18.6 million worth of the token, granting him a seat at the president’s table and entry into a VIP reception reserved for the top 25 holders.

“Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!” Sun wrote. “As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry.”

Sun’s total financial entanglement with Trump-affiliated crypto ventures now exceeds $93 million, including a previous $75 million investment in World Liberty Financial — a platform that reportedly redirects 75% of its revenue to Trump-owned entities.

The $TRUMP coin itself, 80% of which is controlled by Trump-linked groups, has recently seen a price uptick of 2%, bringing its value to $13.27 and a market capitalization of $2.65 billion, making it the 39th largest cryptocurrency by value.

Despite its skyrocketing market cap, $TRUMP, like many meme coins, has no underlying product. Its website explicitly disclaims the token as a security or investment. Nonetheless, watchdog groups are raising red flags over the ethical and national security implications of such a project, particularly its ties to a sitting U.S. president.

“This dubious situation perfectly sums up why this $TRUMP coin competition was always going to become a magnet for foreign influence, unprecedented self-dealing, and next level swampiness,” said Tony Carrk, executive director of Accountable.US.

Blockchain analysis suggests that a significant portion of top token holders are likely non-U.S. citizens, with many using pseudonymous wallets linked to international crypto exchanges such as Binance. According to Inca Digital, at least 19 of the top 25 wallets are operated by individuals outside the United States.

Democrats have responded with alarm. Senator Richard Blumenthal (D-CT) has called the token campaign “an unprecedented, pay-to-play scheme,” while Senator Elizabeth Warren (D-MA) is demanding an ethics probe into a Trump-linked crypto deal with a UAE sovereign wealth fund.

While Republican control of the White House and Congress has stalled legislative action, Democratic leaders have mounted a public pressure campaign. Senate Minority Leader Chuck Schumer and Senator Jeff Merkley recently introduced the “End Crypto Corruption Act” to bar elected officials from promoting or launching digital assets.

As the political and regulatory landscape heats up, one thing remains clear: the intersection of digital currency and presidential influence has never been more prominent — or more controversial.