Justin Sun Emerges as Top TRUMP Token Holder Ahead of VIP Trump Event

A Solana wallet credited with making Justin Sun the largest holder of the TRUMP memecoin appears to be linked to crypto exchange HTX, formerly known as Huobi. Blockchain explorers like Arkham Intelligence and SolanaFM have tagged the wallet as belonging to HTX, which identified Sun as its leader in a 2023 blog post. The wallet, currently holding $23.3 million worth of TRUMP tokens, tops the leaderboard for an exclusive Trump-hosted event near Washington, D.C.

Sun, the founder of the Tron blockchain, confirmed his position as the top holder of the TRUMP token on social media. The sweepstakes rewards major TRUMP token holders with access to a private dinner and VIP reception with President Donald Trump. The event is tied to a token campaign promoted via Trump’s official X (formerly Twitter) account.

Although Sun denied involvement in HTX’s 2022 acquisition by About Capital, he later joined the exchange’s global advisory board. HTX’s rebranding was described as a commitment to “being all in TRON.”

Sun is also linked to a $75 million investment in World Liberty Financial tokens, a DeFi project backed by Trump’s family. His growing ties to Trump’s crypto ecosystem come as several SEC lawsuits, including one against Sun for alleged market manipulation and celebrity token endorsements, have been paused under the Trump-led SEC.

The TRUMP token, launched shortly before Trump’s inauguration, has sparked criticism for its insider-friendly distribution. Despite controversy, the token has surged 11% in the last 24 hours and is currently trading at $14.64, according to on-chain data.

This strategic alignment between crypto leaders and political figures underscores the growing influence of blockchain assets in U.S. political circles.