Donald Trump’s Gala to Feature TRUMP Token Top Holder Justin Sun and Fellow Crypto Supporters
After weeks of theorising across crypto circles and media outlets, Tron founder Justin Sun has publicly confirmed that he owns the wallet holding the largest share of Donald Trump’s TRUMP meme coin—securing him a coveted invitation to dine with the US president.
Sun revealed he had received an invitation to the exclusive dinner and reception at Trump’s golf club in Virginia, scheduled for May 22, as a reward for being among the top 220 TRUMP token holders, in a 19 May post on X (formerly known as Twitter).
Sun claimed ownership of the wallet listed as “Sun” on the TRUMP token leaderboard, which holds approximately $19 million worth of the meme coin, placing him firmly in the top spot.
His post not only confirmed widespread rumours about the wallet’s true owner but also signalled his growing alignment with the Trump camp.
Sun expressed enthusiasm for attending the dinner, saying he looked forward to networking, “talking crypto,” and exploring “the future” of the industry alongside like-minded backers.
Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!
As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry. 🇺🇸 https://t.co/FYb39LTwDz
— H.E. Justin Sun 🍌 (@justinsuntron) May 20, 2025
While the leaderboard rankings were finalised on 12 May, Sun’s decision to publicly confirm his identity just days before the event has raised questions.
His involvement adds a new layer of visibility to his existing ties to Trump-affiliated ventures.
Beyond TRUMP token holdings, Sun has invested heavily—reportedly over $75 million—in projects connected to the Trump family.
This includes a $30 million purchase of World Liberty Financial (WLFI) tokens shortly after the 2024 election and an advisory role with the platform, which is backed by Trump’s three sons.
The upcoming event offers more than just a dinner: the top 25 TRUMP token holders are also invited to a VIP reception and private tour with Trump himself.
Sun’s participation effectively confirms that he controls the wallet holding 1.3 million TRUMP tokens—solidifying his influence in the meme coin's ecosystem.
While many in the crypto community view his involvement as a savvy move to gain access to political power, Sun’s presence at the dinner also comes as he remains in settlement negotiations with the US Securities and Exchange Commission (SEC).
He has yet to reveal what specific topics he hopes to raise with Trump—but his continued investment in Trump-linked crypto ventures signals a strategic push to expand his influence at the intersection of politics and blockchain.
URGENT: The Curious Case of Justin Sun and Trump’s Crypto Token.
March 2023: The SEC charges crypto mogul Justin Sun with fraud.
December 2024: Sun buys $30 million worth of Trump’s WLF crypto token
February 2025: The SEC pauses legal action against Sun, stating they’re… pic.twitter.com/L6q3uGV2ac
— Brian Krassenstein (@krassenstein) May 20, 2025
Foreign Investors Top the TRUMP Token Leaderboard
While Sun has publicly confirmed his attendance at the upcoming TRUMP meme coin dinner, the identities of most other invitees remain shrouded in mystery.
Participants registered using only wallet addresses or brief usernames, making it difficult to determine who’s behind the largest token holdings.
However, investigative reports from CNBC and Bloomberg suggest that a majority of the top holders are foreign investors.
Citing data from analytics firm Inca Digital, CNBC noted that most of the top 275 wallets acquired TRUMP tokens through offshore exchanges such as Binance, Bybit, and OKX—platforms that historically have not serviced US residents.
OKX, for example, only opened access to US users in mid-April 2025.
This strongly implies that many of the top holders are based outside the United States.
One prominent example is MemeCore, a Singapore-based crypto collective holding over 1.2 million TRUMP tokens, currently ranking second on the leaderboard.
A Bloomberg report from early May found that 19 of the top 25 holders used international exchanges to make their purchases.
Is this why Trump is so fascinated with upending international norms this term? Big Payola in #Trump Crypto? "An analysis by Bloomberg revealed that 19 of the top 25 wallets are almost certainly owned by individuals operating outside the U.S." Whose pocket is he in? @NATO #EU
— Bob Krause (@KrauseForIowa) May 18, 2025
Sun, who is also among the top 25 VIP attendees, is set to join an exclusive reception ahead of the main dinner.
Further analysis shows that roughly 56% of the top 220 token holders—those eligible to attend the dinner—likely reside outside the US, raising eyebrows about the extent of foreign influence in a politically symbolic crypto project.
This influx of international participation has reignited concerns about potential conflicts of interest.
Critics argue that the Trump family's deepening involvement in crypto ventures could offer foreign investors indirect access to the former president, blurring the lines between political engagement and personal enrichment.
TRUMP Meme Coin Gains Nearly 12% Following Dinner Invite Buzz
The TRUMP meme coin has defied expectations, rising 11.54% in the past 24 hours despite predictions of a post-eligibility dip following the close of the leaderboard for Trump’s exclusive dinner.
The token is now trading at $14.26, marking a 72.03% gain over the last 30 days, according to CoinMarketCap.
Still, its recent surge may reflect broader bullish momentum in the crypto market, particularly gains led by Bitcoin, rather than renewed confidence in the token itself.
With no further incentive tied to holding TRUMP—such as event access—analysts anticipate increased selling pressure, especially from holders who didn’t make the top 220.
One notable example is Nasdaq-listed logistics firm Freight Technologies, which spent $2 million on TRUMP tokens through convertible notes as part of a self-described strategic initiative to support “fair and free trade across the US-Mexico border.”
Despite the investment, the company failed to secure a dinner invitation, ranking 275th on the leaderboard.
As incentives fade, such investors may now reconsider their position.
Congress Faces Scrutiny Over Potential Conflicts of Interest Tied to Meme Coins
The growing involvement of Sun and other prominent crypto figures in Trump’s blockchain ventures has sparked concern among Democratic lawmakers, who warn that digital assets may be used as a backdoor to influence a potential future president.
These concerns recently cast a shadow over progress on the GENIUS Act—a bill aimed at regulating stablecoins—which was stalled in part due to scrutiny over World Liberty Financial’s USD1 stablecoin.
The Senate ultimately advanced the bill on 19 May, just hours before Sun publicly confirmed his attendance at Trump’s exclusive TRUMP token dinner.
The Senate voted "yes" on moving forward the GENIUS Act in an epic bipartisan showing, 66 - 32 🎉
There's still more work to do — another formal vote on GENIUS in the Senate, and passing STABLE in the House — but this was the hardest part.
We will have stablecoin legislation 🇺🇸 pic.twitter.com/wvsotPrm5l
— Jake Chervinsky (@jchervinsky) May 20, 2025
Massachusetts Senator Elizabeth Warren noted:
“How convenient: the day after the Senate advances the GENIUS Act, Justin Sun — a major investor in the Trump family crypto venture — announces he’s getting a private dinner as the president’s top crypto buyer. It’s critical that everyone understands the GENIUS Act doesn’t stop this type of corruption — it greenlights it.”
During a 20 May congressional oversight hearing, Representative Glenn Ivey of Maryland raised questions about the SEC’s decision to stay its enforcement case against Sun, highlighting the timing of Sun’s substantial investments in both World Liberty Financial and the TRUMP meme coin.
Although the case was paused before current SEC Chair Paul Atkins assumed office, Ivey suggested the timeline warrants closer examination, especially in light of Sun’s deepening ties to the Trump ecosystem.
Attendees of the upcoming dinner are expected to undergo background checks before meeting Trump in person.
As of 20 May, the guest list includes high-profile names from the crypto world such as Kronos Research CIO Vincent Liu, Hyperithm co-CEO Oh Sangrok, Synthetix founder Kain Warwick, consultant Vincent Deriu, crypto user Morten Christensen, an adviser to World Liberty Financial known as “Ogle,” and a representative from Singapore-based MemeCore.
