Who is Justin Sun, controversial China born crypto billionaire at Donald Trump's Memecoin Dinner?

Justin Sun, the China-born founder of the Tron blockchain, participated in the dinner while he is fighting a market manipulation case in the US

Published on: May 23, 2025, 22:30:54 IST

By HT News Desk

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Crypto billionaire and entrepreneur Justin Sun was one of the high profile attendees of lavish dinner hosted by US president Donald Trump on Thursday to felicitate top 220 holders of his Memecoin.

Cryptomoney exchange Tron Justin Sun participates in a session during the Token 2049 crypto conference in Dubai on May 1, 2025. (AFP file)

Top 25 holders were invited to a special before-dinner reception with the president and also chosen as “eligible” for a tour of the White House.

Who is Justin Sun?

Justin Sun, the China-born founder of the Tron blockchain, participated in the dinner while he is fighting a market manipulation case in the US. As Trump left the event, Justin Sun was introduced as a speaker by Bill Zanker, who helped organise the dinner.

The billionaire, now holding the citizenship of Saint Kitts and Nevis, claims to be one of the top holder of Trump's Memecoin. He is known for purchasing an art piece with a banana taped to a wall for $6.2 million and eating the fruit later.

The controversial billionaire was sued by the US Securities and Exchange Commission in 2023 for allegedly manipulating markets by offering the sale of unregistered securities through companies he owns and controls – the Tron Foundation, BitTorrent Foundation Ltd., and Rainberry Inc. He also paid celebrities for undisclosed promotions.

The crypto billionaire has also invested a total of $75 million in WLFI, the token of World Liberty Financial, another crypto project linked to Trump and his family members. As an adviser to the project, his early investment is believed to have helped Trump start the project.

At the dinner,Sun called for the crypto industry to back Trump and his initiatives. He had expressed great enthusiasm in attending Trump's dinner and thanked the Republican for his “unwavering support” to the industry.

SEC to pause case against Justin Sun?

Amid Sun's camaraderie with Trump, the US SEC is looking to pause the case after former chairman Gary Gensler left the agency, reported Bloomberg. The move is one of the noteworthy legal developments after Trump assumed power for a second term on January 20.

Trump's dinner gala was slammed by Democrats as Senators Elizabeth Warren and Adam Schiff demanded a federal ethics investigation. They called the event a “pay to play” scheme of “corruption and foreign influence,” as many holders of Trump's Memecoin are believed to be from outside the US.

The White House has defended the event saying Trump was attending the event in his “personal time” outside official duties. The administration also claimed that it has nothing to do with Trump's Memecoin.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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