Who Is Justin Sun? The Controversial Crypto Billionaire at Donald Trump’s Memecoin Dinner

Justin Sun, a crypto tycoon originally from China and founder of the Tron blockchain, recently made headlines for his appearance at a high-profile dinner hosted by former U.S. President Donald Trump. The event was organized to honor the top 220 holders of Trump’s new Memecoin venture.

The exclusive affair saw the top 25 holders enjoying a special pre-dinner reception with Trump himself. These selected guests were also given the opportunity to tour the White House.

Who is Justin Sun?

Sun, now a citizen of Saint Kitts and Nevis, is well known in the cryptocurrency space. While he participated in the celebratory event, he is also currently facing legal trouble in the United States. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against him in 2023, accusing him of manipulating the crypto market and illegally offering unregistered securities through his companies—Tron Foundation, BitTorrent Foundation Ltd., and Rainberry Inc.

Additionally, he allegedly paid celebrities to promote his crypto projects without proper disclosures. Despite these controversies, Sun continues to maintain a strong presence in the digital asset world.

During the dinner, Sun was introduced by event co-organizer Bill Zanker and even delivered a speech supporting Trump’s crypto-related initiatives. He has openly stated that he is among the top holders of Trump’s Memecoin and praised Trump for his “consistent support” of the cryptocurrency sector.

Sun is no stranger to publicity. He once bought a conceptual art piece featuring a banana duct-taped to a wall for $6.2 million—only to eat the banana himself, adding to his eccentric public persona.

Investment Ties and Political Influence

Beyond Memecoin, Sun has invested heavily—reportedly $75 million—in WLFI, a token linked to World Liberty Financial, another crypto venture with rumored connections to Trump and his inner circle. Sun also serves as an adviser to this project, and his early investments are believed to have helped launch it.

During the dinner, Sun urged fellow crypto enthusiasts and investors to rally behind Trump and his political efforts, signaling strong support for the Republican leader’s policies on blockchain and digital assets.

SEC May Pause Lawsuit

Following Gary Gensler’s departure as SEC Chairman and Trump’s return to the presidency in January 2025, reports from Bloomberg suggest that the agency may consider pausing its case against Sun. This potential legal shift is drawing significant attention in both political and financial circles.

Controversy Around the Event

While the dinner attracted crypto elites, it also stirred political backlash. Democratic Senators Elizabeth Warren and Adam Schiff criticized the gathering, labeling it a “pay-to-play” scandal and questioning foreign influence due to the number of international attendees. They are now calling for a federal ethics probe into the matter.

The White House has responded by saying that the event was held during Trump’s personal time and that it was unrelated to his official duties. The administration distanced itself from any association with the Memecoin project.