Billionaire in Cryptocurrency, Justin Sun, Pledges to Spend Another $100 Million on Trump's Digital Token, Dubbed as Meme-coin
In a significant development for the crypto industry, Justin Sun, the founder of the Tron blockchain, is pushing forward with plans for his controversial memecoin, $TRUMP, despite facing civil fraud charges from the U.S. Securities and Exchange Commission (SEC).
The SEC's lawsuit, launched in 2023, accuses Sun and his companies, including Tron, of market manipulation and issuing unregistered securities. However, the SEC paused its case against Sun in February 2025, and efforts are underway to resolve the matter. As of now, Sun's attorneys and the SEC have jointly requested a stay in the case to explore a possible resolution, which could potentially lead to the case being dropped.
Despite the ongoing legal issues, Sun remains committed to his plans involving the $TRUMP token. He has announced plans to make the token tradable on the Tron blockchain, utilizing bridging technology from LayerZero. Sun has also expressed interest in purchasing more of the $TRUMP token, with a reported pledge of $100 million. This significant investment could boost the token's market presence and availability, potentially increasing its accessibility to a broader audience.
The integration of the $TRUMP token with the Tron blockchain is part of Sun's broader strategy to make blockchain technology more accessible and useful for a wider audience. This move aligns with Sun's ambition to build user-friendly blockchain infrastructure, which he believes can leverage the popularity of figures like Donald Trump to attract non-crypto users into the crypto space.
The outcome of the SEC case could have significant implications for the crypto industry, particularly regarding how tokens are regulated and traded. The case's resolution might influence how future token offerings are treated under U.S. law, impacting Sun's plans and other crypto companies alike.
Meanwhile, the market performance of the $TRUMP token is closely watched. The coin peaked at a $15 billion market cap on its first day of trading and has since slid to about $2 billion as of July. The complementary $MELANIA token has also plunged more than 90% from its offering price in January to less than $141 million.
It is important to note that Sun's decision to invest in $TRUMP, despite the ongoing legal case, could be perceived as a conflict of interest. Similarly, Sun's extravagant spending habits, such as his $6 million purchase and consumption of a banana taped to a wall, have raised eyebrows in the industry.
As the SEC case progresses, the crypto community will be closely following developments, eager to understand the implications for the industry and Sun's plans for the $TRUMP token.
- Justin Sun, the founder of the Tron blockchain and currently facing civil fraud charges from the U.S. Securities and Exchange Commission (SEC) related to market manipulation and unregistered securities, plans to make his controversial memecoin, $TRUMP, tradable on the Tron blockchain using LayerZero bridging technology.
- Despite ongoing legal issues, Sun has shown his commitment to his plans involving the $TRUMP token by pledging a significant investment of $100 million, a move that could potentially increase its accessibility to a broader audience.
- The integration of the $TRUMP token with the Tron blockchain aligns with Sun's broader strategy to make blockchain technology more accessible and useful for a wider audience, leveraging the popularity of figures like Donald Trump to attract non-crypto users into the crypto space.
- The resolution of the SEC case against Sun could have significant implications for the crypto industry, particularly regarding the regulation and trading of tokens, potentially impacting how future token offerings are treated under U.S. law.
