Why did Sun Yuchen want to attend Trump's dinner? Simply put, both of them have their own agendas, engaging in a 'quid pro quo' arrangement.
What does Sun Yuchen want?
First, he wants to leverage political connections. He holds a large amount of 'Trump coins' and has invested tens of millions of dollars in Trump family's crypto projects, hoping to influence U.S. cryptocurrency policy, such as getting regulatory bodies to go easy on him or even suspend lawsuits.
Second, he wants to evade legal risks. He has been under scrutiny from U.S. regulators for a long time, suspected of money laundering and insider trading, spending money on Trump might be a way to gain 'political protection' and avoid trouble.
Third, he wants to gain popularity. He has always liked to ride the wave of trends, being seen with Trump can lead to extensive media coverage, which in turn can boost his own crypto projects and exchange, attracting more investors.
What does Trump want?
First, it's about fundraising. The Trump family has made a fortune from issuing 'Trump coins' and related tokens, over half of Sun Yuchen's investment went directly into their pockets, while retail investors suffered huge losses, they managed to cash out successfully.
Second, it's about consolidating his position. Trump supports cryptocurrencies, which can please investors in the crypto space, especially young voters, solidifying his political foundation, in opposition to the previous Biden administration's decisions.
Finally, it's about playing politics. He deliberately opposes Biden's cryptocurrency policies, supports industry development, and aims to transform the U.S. into a 'cryptocurrency hub,' both to divide his opponents and to establish himself as a 'supporter of innovation.'
What is the essence of their relationship?
It's essentially a game of 'power for money exchange.' Sun Yuchen uses money to buy political resources and exposure, while Trump uses his power to help his family make money and consolidate his position. When they come together, it appears to be 'big shots interacting,' but in reality, it's all about their own interests, using cryptocurrency as a tool.