Justin Sun, the founder of Tron, has been rumored to be holding over $14 million worth of the $TRUMP meme coin.
An HTX cold wallet, believed to be linked to Sun’s, is currently topping the leaderboard. Since Trump announced the private dinner for the top 220 TRUMP holders, the crypto space has been exploding with activity. The token is trading at $12.09, down 0.6% in the past day.
As of April 25, 2025, Sun allegedly owns about 1,176,803 TRUMP tokens valued at around $14.3 million. Within an hour, the token’s price shot over 60% in reaction to the news yesterday.
Rumors are making the rounds that Sun might be attending the President’s exclusive gala dinner next month, and he is dropping hints that it could be true. The dinner is set to take place on May 22.
The wallet has been moving TRUMP tokens for the past three months and has only added more since the dinner was announced. It is also reasonable to believe that it could be a regular cold storage wallet used by an exchange. Since registering for the TRUMP leaderboard doesn’t risk the security of the tokens.
Last year, Sun invested $30 million in WLFI shortly after the election. Since then, the SEC has also moved to settle a civil fraud case against him.
Since Wednesday’s announcement, 27 crypto wallets have each acquired over 100,000 TRUMP coins, worth around $1 million each, to secure a spot at Trump’s May 22 gala. The biggest buyer scooped up 2 million coins for $24 million. The Trump-affiliated team also earns fees from each transaction, making $1.25 million in the past week.
Critics have expressed concerns that Trump’s meme coin could be used as a money-grab or a way to secretly gain political influence by making large investments to boost the coin’s value and over potential conflicts of interest.
The TRUMP token is a meme coin associated with Donald Trump, and holders of the top 220 amounts of the coin are invited to a private dinner at Trump National Golf Club.
The price of $TRUMP coins has surged due to the announcement of the private dinner event, with significant buying activity from crypto wallets. However, analysts warn that once the excitement fades, the coin’s price could drop, leaving late buyers at risk of losing money.
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