Justin Sun, founder of Blockchain platform Tron, poses for a photo in Hong Kong, 8 May 2020.
Calvin Sit | Bloomberg | Getty images
Crypto-Mogul Justin Sun, born in Chinese, says he is the best holder of the $ Trump Meme token and will dine with President Donald Trump.
The dinner competition – a sweep stakes that gala access to the current US president – was open to everyone in the world willing to spend millions of dollars on a digital currency bound to Trump.
On Thursday, the Top 220 $ Trump holders are invited for a dinner with the president in his Virginia Golf Club Buiten Washington, DC
At the end of Monday evening, Sun placed on X that he had protected the top position in the $ Trump token -Leaderboard, which earned him a invited dinner with the president, as well as a VIP reception for the top 25 holders.
“Honored to support @potus and grateful for the invitation of @Gettumpmemes to attend President Trump’s gala dinner as his best fan!” He wrote. “As the best holder of $ Trump, I am enthusiastic to make contact with everyone, to talk crypto and discuss the future of our industry.”
Sun now has $ 18.6 million in meme-toky with Trump theme, in addition to the $ 75 million that I have previously deposited in World Liberty Financial-A separate crypto company that routes 75% of the platform directly to Trump-Eigenitents.
All in all, the importance of Sun in the Crypto empire of the Trump family is now $ 93 million.
Sun, born in China, is the crypto entrepreneur behind the Tron Blockchain and is in conversation with the Securities and Exchange Commission to Civil Solution Fraud.
His case was paused in February, shortly after investing tens of millions of dollars in the WLFI token of World Liberty.
The $ Trump -Munt rose in value by around 2% on Tuesday to $ 13.27, according to Coinmarketcap.com. This appreciates the circulating range at $ 2.65 billion, making it the 39th most valuable cryptocurrency. Bitcoin Is the most valuable for $ 2.1 trillion.
Just like with other meme coins, there is no underlying product.
The website of the project says that the coins “are not intended to be or to be an investment option, investment contract or security of any kind.”
The SEC issued guidelines in February and said that most meme coins are not considered effects according to US federal legislation.
Watchdog Group Accountable.us referred to the moment that “corruption in real time unfolds” and renewed warnings that the $ Trump Token competition will open access to the back door to foreign and business actors with little supervision and great use in Trump-Linked Activa.
“This doubtful situation summarizes why this $ Trump Munt Competition was always about a magnet for foreign influence, unprecedented self-handling and the next level Swaass,” said Tony Carrk, executive director of accounts.
The nature of the pseudonymous portfolios raises questions about the true identities and motivations of the greatest holders of the token.
Documents from Blockchain -analyse company Inca Digital that have been assessed by CNBC show where the Top 275 $ Trump brokers send and reset to the token. Many are strongly linked to international exchanges such as Binance that do not serve American customers, an indication that they probably not American citizens.
An analysis of Bloomberg Reeded that 19 of the top 25 portfolios are almost certainly owned by persons who are active outside the US
The Leaderboard – now closed – laid an extrainery concentration of wealth and influence behind to volatile active that was launched just a few days before the inauguration.
More than $ 5.2 billion in realized profits have been streamed to the best performing portfolios, while a larger number of addresses-over 590,000 according to Inca Digital Collective lost $ 3.9 billion.
Sen. Richard Blucenthal, D-Conn., The ranking of the Senate Nub-Committee for research, warned that the growing crypto companies of the Trump family can serve as a back door for foreign and business interests that are looking for access to the president.
“The financial complications of President Trump for the $ Trump coin, as well as the attempt to use the White House to organize competitions to support the value of $ Trump, represents a valued VN-Pay-to-Play scheme to give access to the Highst Bieder,” Blument wrote.
Watch: Eric Trump about taking American Bitcoin Public and the growing Crypto -Rijk of the family
