Justin Sun Pledges $100 Million for Trump's Meme Coin
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Tron founder Justin Sun, one of the most recognizable figures in the crypto world, has committed to a major investment in the TRUMP meme coin, owned by former US President Donald Trump. In a post on the social media platform X, Sun stated, "We are committing to investing $100 million in TRUMP," stating that this step aims to foster the growth of crypto ecosystems through collaboration.
Sun not only made this statement, but also emphasized his belief that this move will expand the crypto space through the collaboration of the TRON and TRUMP communities. Referring to the official @GetTrumpMemes account, he stated that this investment will play a significant role in the future of the Trump-backed meme coin.
TRUMP token now migrates to the TRON network
Just two days before this announcement, the Tron DAO announced that the TRUMP meme coin would be launched on the Tron network. This development generated excitement among both Tron and Trump supporters, with the value of the TRUMP token rising 2.7 percent to $8.89 on the same day.
As you may recall, Justin Sun is one of the leading investors in the TRUMP token. According to CNBC reports, Sun previously held one of the largest wallets in the field, with approximately $19 million worth of TRUMP tokens. Sun also attended a private gala dinner hosted by Trump earlier in the year.
Trump and Sun's relationship deepens
The ties between Justin Sun and Donald Trump are not new; they have only recently strengthened. Immediately after Trump won the November 2024 election, Sun invested $30 million in the Trump-inspired World Liberty Financial project, which also includes his sons as ambassadors. This amount was quickly increased to $75 million, and Sun also began serving as an advisor on the project. In January, World Liberty purchased millions of dollars worth of TRX tokens from the TRON network, which Sun founded.
Is the legal process easing?
The legal problems Justin Sun is facing in the US are also drawing attention. Last year, the US Securities and Exchange Commission (SEC) filed a lawsuit against Sun and three of his companies for the unregistered distribution of TRX and BTT tokens. However, following the Trump administration's positive approach to crypto, there are signs that the SEC's stance is softening.
In a document filed in the Federal Court for the Southern District of New York recently, lawyers for the SEC, Sun, and his companies jointly requested a stay of proceedings. This development is being interpreted as suggesting that Trump's more crypto-friendly approach could give Justin Sun an advantage in resolving his legal issues in the US.
