The crypto billionaire Justin Sun says

The greatest owner of President Trump's cryptocurrency token is the entrepreneur Justin Sun. The billionaire announced on Tuesday. He invited him to an invitation to a controversial dinner this week, which Mr. Trump organizes for the greatest supporters of his Meme Coin.

Sun announced that he would participate Dinner on Thursday evening in the DC Golf Club by Mr. Trump – This is open to the 220 largest owners of the $ Trump Meme Coin – in a position on X, which describes himself as the “top fan of the president”.

“As the top owner of $ Trump, I am excited to connect with everyone, talk about crypto and to discuss the future of our industry,” wrote Sun, who founded the Tron Blockchain and was confronted with a securities action by the Federal Supervisory Authorities of the Biden era.

The Meme Coin website lists the largest owner of $ Trump as someone with the user name “Sun”, who has around 1.4 million tokens – worth around 19 million US dollars at the trading price on Tuesday.

In addition to dinner for the top 220 owners of $ Trump, the president also organizes an “exclusive reception” in his club in North Virginia for the top 25 owners of the token. Sun did not answer immediately when he was asked by CBS News whether he would take part in the smaller reception.

What is the $ Trump Meme coin – and why is it controversial?

The Meme coin was launched in January, days before Mr. Trump's inauguration. A subsidiary of the Trump organization and a company called Fight Fight Fight LLC check 80% of the overall offer of the coin.

Meme coins are a kind of cryptocurrency, the value of which is mainly driven by online sums, especially on social media. They usually have no intrinsic value and are not used for transactions. Like many Meme coins, $ Trump is known for irregular price shifts: The price reached around 75 US dollars shortly after its introduction, but fell on less than 8 US dollars until the beginning of April.

But the price at the end of the last month flooded After dinner with Mr. Trump, it was announced. Buyer spent more than $ 140 million out Purchase of the $ Trump coins in the hope of securing an invitation to the event, according to the data analysis company Inca Digital.

Mr. Trump has previously sworn on social media to “ensure that the United States is the crypto capital of the world”. The President and his two eldest sons, Donald Trump Jr. and Eric Trump, support the Crypto Exchange World Liberty Financial, and Crypto, according to an approximately 2.9 billion US dollar from Mr. Trump's assets newer report.

Eric Trump called the $ Trump coin “The Hottest Digital Mem in the World” in January.

The marketing transport of $ Trump private dinner – and the connections of the president to world freedom – have expressed concerns about potential conflicts of interest in state guard dog and democratic legislators.

The Senate on Monday made an invoiceCalled the ingenious law, which would regulate the so-called stable coins-a kind of cryptocurrency, which is connected to the value of an assets such as the US dollar or gold. The legislative template was confronted by Democrats, which crowded to rules against the fight against corruption and often quoted on Mr. Trump's crypto spar.

“How convenient: On the day after the Senius Act's Senate, Justin Sun -a great investor in the Crypto company of the Trump family -announced that he will receive a private dinner as the top buyer of the President's crypto buyer,” said Massachusett's Senator Elizabeth Warren, the Senate Democrat of the Senate Banking Committee.

The white house has Dismiss The support of Mr. Trump for the crypto sector is a conflict of interest and realizes that his assets are kept in a trust that is managed by his children.

“The President is working on the American people, not to secure good offers for themselves. President Trump only works in the best interest of the American public. Therefore, despite years of lying and false accusations against him and his business, they mostly voted back to this office,” said the spokesman for the White House on Tuesday.

Who is Justin Sun?

According to Forbes, SUN has a net value of 8.5 billion US dollars. It is best known for the Tron Blockchain – and for for Pay 6.2 million US dollars With a banana that the artist Maurizio Cattelan stood on a wall that immediately ate himself as part of a “unique artistic experience”.

Sun says his company has it too Invested tens of millions In the world bound by Trump Liberty Financial.

He Was Squeezed by the Bidsen-era stock market supervisory authority due to supposedly “fraudulent” the secondary market “for a crypto token created by its company”. The lawsuit also accused his company of paying celebrities like Lindsey Lohan and Jake Paul to promote the token “without disclosing their compensation”. Sun's lawyers pushed the suit back.

But at the beginning of this year, the Sec and Suns agreed to pause the lawsuit in order to “examine a potential solution”. The stop was part of a wider change in the Trump government to facilitate the enforcement of cryptocurrency.