Tron founder Sun Yuchen has publicly confirmed that he is the owner of the largest wallet of Donald Trump's (Donald Trump) TRUMP memecoin—news that has sparked celebration and attention in both the cryptocurrency and political arenas.
Sun Zhengyi announced on May 19 via X that he had received an invitation to dinner with the former U.S. president, which would be held at a presidential golf club near Washington, D.C.
Sun Yuchen will attend the Trump dinner as the largest holder of Memecoin
According to Sun Yuchen, his wallet contains approximately $19 million worth of TRUMP tokens, trading at $13.20, placing him among the top participants out of 220 qualified attendees at the May 22 dinner.
Notably, as the leading wallet on the leaderboard, Sun Yuchen also has the opportunity to gain access to a private reception and VIP tour reserved for the top 25 token holders. He stated that he plans to 'talk about cryptocurrency' and 'explore the future of the industry' at the event.
The cryptocurrency community has long speculated that Sun Yuchen is the mastermind behind this wallet, especially after he previously invested $75 million in Trump-backed cryptocurrency ventures through World Liberty Financial—reportedly supported by Trump's son.
This includes the purchase of $30 million worth of tokens shortly after the 2024 U.S. presidential election. Sun Yuchen also serves as an advisor to the company, further strengthening his ties to the Trump crypto ecosystem.
Concerns over influence and regulation
Sun Yuchen's involvement has raised alarms among lawmakers, especially those concerned about the buying of political influence through cryptocurrency investments. The timing of Sun Yuchen's announcement—just hours after the Senate advanced the (GENIUS Act) aimed at regulating stablecoins—has heightened concerns over potential conflicts of interest.
Massachusetts Senator Elizabeth Warren criticized the move, calling it a 'corruption' phenomenon that the (GENIUS Act) failed to address.
During a congressional hearing on May 20, Congressman Glenn Ivey questioned SEC Chairman Paul Atkins about the timing of the suspension of Sun Yuchen's lawsuit and his relationship with Trump-affiliated businesses. Although Atkins took office after the SEC agreed to suspend the lawsuit against Sun Yuchen (which involved allegations of unregistered securities issuance and market manipulation), Ivey pointed out a troubling close connection between Sun Yuchen's cryptocurrency activities and regulatory decisions.
As of May 20, other confirmed guests for the dinner include prominent figures in the cryptocurrency space, such as Vincent Liu of Kronos Research and Kain Warwick, founder of Synthetix.