Sun Yuchen's gamble at the White House dinner was bloodied, the Trump family reaped a 'leek tax' of 350 million
As the number one holder with 28,224,874,661 tokens, he spent over 19.67 million dollars to acquire 1.43 million tokens, only to see it turn into a game of evaporating value at the presidential dinner. This feast, touted as a dialogue between crypto elites, essentially devolved into a capital black hole of political theatrics.
Before the banquet, it was packaged as the Oppenheimer moment of the crypto world, but ultimately concluded hastily with the mass distribution of custom watches and a 45-minute standardized speech. According to attendees, Trump never touched on substantial policies, but repeatedly emphasized the need to let America regain control of blockchain, and the carefully designed White House tour segment by his team was quietly deleted under public pressure. This tear between expectations and reality directly triggered a 10% drop in token prices on the same day.
It is worth noting that Sun Yuchen's holding cost is much higher than the current market price. Considering that Trump coin soared from the issuance price of 0.18 dollars to 75 dollars before falling back to 14 dollars in a rollercoaster market, combined with on-chain data showing that 19 out of the top 25 holders are foreign accounts engaging in sell-offs, this Chinese cryptocurrency mogul's actual losses may exceed tens of millions of dollars. Ironically, the Trump Group still controls 80% of the token reserves, and its built-in 0.3% transaction fee mechanism has quietly siphoned off 350 million dollars, creating an odd pattern where holders lose money while the issuer profits handsomely.
The essence of this crypto feast is the quantum entanglement of political influence and virtual assets. When protesters at the entrance of the presidential club raised slogans against smart contract tyranny, the close listening that Sun Yuchen and others pursued ultimately became an expensive backdrop in the power game.
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