Financial Trade Freedom - Investing and Stock News
  • Investing
  • News
  • Editor’s Pick
  • Economy
  • Stock
  • Investing
  • News
  • Editor’s Pick
  • Economy
  • Stock
No Result
View All Result
Financial Trade Freedom - Investing and Stock News
No Result
View All Result
Home Economy

A man once sued by the SEC wins Trump crypto contest to have dinner with the president

admin by admin
May 21, 2025
in Economy
0
A man once sued by the SEC wins Trump crypto contest to have dinner with the president
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

We now know who won the contest to attend an intimate dinner with President Donald Trump by buying his cryptocurrency — and he’s a familiar face to Securities and Exchange Commission regulators and law enforcement officials.

Justin Sun, a Chinese-born crypto entrepreneur, confirmed in an X post Tuesday that he was behind the account, labeled ‘SUN,’ that purchased the most $TRUMP meme coin to sit at the president’s table at a crypto-focused gala scheduled for Thursday.

‘Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!’ Sun wrote. ‘As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry.’

He capped the post with an American flag emoji.

Critics have blasted the dinner contest as potentially unconstitutional and a blatant opportunity for corruption. Trump has not publicly commented on the accusations, and the Office of Government Ethics has declined to comment. A White House official did not immediately respond to a request for comment Tuesday.

The Trump administration is not directly involved in administering $TRUMP coin. As for the dinner, a White House official said in a statement that the president ‘is working to secure GOOD deals for the American people, not for himself.’

‘President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media,” White House spokesperson Anna Kelly said.

While Trump has not been as aggressive in directly promoting cryptocurrencies as some campaign backers in the industry had hoped, his administration has abandoned or paused many pending cases that had been brought against crypto entrepreneurs and businesses.

That includes Sun, who was charged in 2023 with market manipulation and offering unregistered securities. Regulators sought various injunctions against him that would have largely prevented him from participating in crypto in the U.S. The Verge, a tech industry website, had also reported Sun was the target of an FBI investigation.

But in February, the SEC, now controlled by Trump appointees, agreed to a 60-day pause of the suit in order to seek a resolution.

Two months earlier, Sun purchased $30 million in crypto tokens from World Liberty Financial (WLF), the crypto venture backed by Trump and his family, the website Popular Information reported.

Eventually, Sun became the largest publicly known investor in World Liberty after he brought his funding total to $75 million.

According to Bloomberg News, per the terms of World Liberty’s financial structure, 75% of the proceeds of token sales like Sun’s get sent to the Trump family as a fee — meaning they may have directly earned as much as $56 million.

On Jan. 22 — two days after Trump was inaugurated — Sun posted on X, “if I have made any money in cryptocurrency, all credit goes to President Trump.”

In April, The Wall Street Journal reported that Joe Biden’s Justice Department had been investigating Sun, noting that researchers had estimated that more than half of all illicit crypto activity took place on Sun’s Tron blockchain platform. The Journal said it wasn’t clear whether the investigation was ongoing. It said Sun’s representatives declined to comment about what they called “baseless allegations about legal matters” while denying Tron enables criminal activity.

Sun may now be a multibillionaire, with a net worth estimated at $8.5 billion, according to Forbes. He reportedly was forced to spend $2 billion to shore up one of his crypto firms that was facing collapse in 2022.

He did not immediately respond to a request for comment about what he hoped to get out of the dinner with the president.

Sun has also earned headlines for purchasing ‘Comedian,’ an art installation composed of a banana duct-taped to a wall, for $6.2 million, and for buying lunch with Warren Buffett for $4.57 million.

This post appeared first on NBC NEWS

Previous Post

Top crypto price predictions: Fartcoin, Monero, Hedera Hashgraph

Next Post

As Buffett bails on Wall Street banks, Truist says these regional peers are worth buying

Next Post
As Buffett bails on Wall Street banks, Truist says these regional peers are worth buying

As Buffett bails on Wall Street banks, Truist says these regional peers are worth buying

  • Trending
  • Comments
  • Latest
U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low

U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low

February 19, 2025
KFC moves U.S. headquarters from Kentucky to Texas

KFC moves U.S. headquarters from Kentucky to Texas

February 19, 2025
How Companies Use Derivatives To Hedge Risk

How Companies Use Derivatives To Hedge Risk

February 19, 2025
Denny’s set to close dozens more locations this year, though some openings planned too

Denny’s set to close dozens more locations this year, though some openings planned too

February 16, 2025
DXY: Here’s why the US dollar index crash may continue

DXY: Here’s why the US dollar index crash may continue

0
Denny’s set to close dozens more locations this year, though some openings planned too

Denny’s set to close dozens more locations this year, though some openings planned too

0
Amazon ‘anti-union propaganda,’ employee surveillance loom over labor vote at North Carolina warehouse

Amazon ‘anti-union propaganda,’ employee surveillance loom over labor vote at North Carolina warehouse

0
As Joann Fabrics and JCPenney announce store closings, here’s what’s driving the pattern

As Joann Fabrics and JCPenney announce store closings, here’s what’s driving the pattern

0
DXY: Here’s why the US dollar index crash may continue

DXY: Here’s why the US dollar index crash may continue

May 23, 2025
Asian markets close: Sensex up 769 pts; Nikkei rises 0.47% on economic data

Asian markets close: Sensex up 769 pts; Nikkei rises 0.47% on economic data

May 23, 2025
How Octopus Energy is betting on AI to drive global expansion via Kraken platform

How Octopus Energy is betting on AI to drive global expansion via Kraken platform

May 23, 2025
Miningcoop launches AI cloud mining system: best legal Bitcoin platform of 2025

Miningcoop launches AI cloud mining system: best legal Bitcoin platform of 2025

May 23, 2025

    Get Smarter with Your Money – Sign Up for Free Financial Tips!


    Join our community of savvy savers and investors! By signing up, you'll receive weekly emails packed with personalized financial tips, budgeting hacks, and investment strategies tailored to your income level. Take control of your finances today – it’s free and only takes a minute!

    Recent News

    DXY: Here’s why the US dollar index crash may continue

    DXY: Here’s why the US dollar index crash may continue

    May 23, 2025
    Asian markets close: Sensex up 769 pts; Nikkei rises 0.47% on economic data

    Asian markets close: Sensex up 769 pts; Nikkei rises 0.47% on economic data

    May 23, 2025
    How Octopus Energy is betting on AI to drive global expansion via Kraken platform

    How Octopus Energy is betting on AI to drive global expansion via Kraken platform

    May 23, 2025
    Miningcoop launches AI cloud mining system: best legal Bitcoin platform of 2025

    Miningcoop launches AI cloud mining system: best legal Bitcoin platform of 2025

    May 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: FinancialTradeFreedom.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 financialtradefreedom.com | All Rights Reserved

    No Result
    View All Result
    • About us
    • Contacts
    • Email Whitelisting
    • Investing and Stock News
    • Privacy Policy
    • Terms and Conditions
    • Thank you

    Disclaimer: FinancialTradeFreedom.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 financialtradefreedom.com | All Rights Reserved