Justin Sun Acquires $100 Million Stake in Trump’s Memecoin

Justin Sun Acquires $100 Million Stake in Trump’s Memecoin

Last week, cryptocurrency entrepreneur Justin Sun announced on X that he had acquired $100 million worth of $TRUMP, the memecoin associated with former President Donald Trump. The token is set to become tradable on TRON, the blockchain network founded by Sun in 2017. In his announcement, Sun emphasized the strategic nature of the purchase, stating, “This move highlights our belief in collaborating across ecosystems to grow the crypto landscape with communities such as @GetTrumpMemes,” and describing $TRUMP on TRON as “the currency of #MAGA.”

Market Reaction and Investor Sentiment

Sun’s substantial investment has generated considerable attention and debate within both the cryptocurrency community and political circles. While some investors view the acquisition as a bold endorsement of a highly controversial digital asset, others remain cautious about the coin’s sustainability and long-term value. Despite the heightened interest, major competitors in the crypto industry have yet to issue formal statements, leaving market participants to observe developments closely.

This transaction adds to Sun’s history of high-profile and unconventional purchases. In December, he attracted widespread media coverage by purchasing Maurizio Cattelan’s artwork Comedian—a banana duct-taped to a wall—at Sotheby’s for $6.2 million, an artwork he later publicly consumed. Earlier this year, a New York Times investigation revealed that Sun had invested $75 million in $WLFI tokens, issued by World Liberty Financial, a cryptocurrency firm largely owned by a Trump family corporate entity.

Sun’s activities have also involved legal controversies. In February, he initiated a lawsuit against billionaire art collector and music executive David Geffen over the Alberto Giacometti sculpture Le Nez (1949–65), which Sun claims to have purchased privately. Geffen responded with a countersuit, alleging the sculpture was stolen and fraudulently sold. Sun has demanded the return of the artwork.

The Rise and Volatility of $TRUMP

The $TRUMP token was launched by Trump and his associates just days before his second inauguration in January. The coin’s value initially surged by more than 300 percent within days, capturing significant market enthusiasm. However, by March, the token’s price had sharply declined, resulting in investor losses estimated at around $12 million. As noted by ARTnews, meme coins—often classified as “artworks” to circumvent securities regulations—are prone to rapid collapses following swift rises in value. Despite this volatility, $TRUMP’s market capitalization stabilized at approximately $1.85 billion at the time of reporting, down from its peak of over $9 billion during the inauguration period and subsequent highs of $4.29 billion in February and $3.1 billion in late April.

The coin’s direct association with Trump has drawn scrutiny from ethics watchdogs concerned about potential conflicts of interest. Critics argue that Trump’s ownership of $TRUMP creates an unprecedented channel for personal financial gain. This criticism intensified after a May 22 event, where Trump hosted a dinner and White House tour for leading $TRUMP investors, including Sun. According to the Guardian, this gathering reportedly stimulated $148 million in coin purchases. Former federal prosecutor Paul Rosenzweig described the situation as “a textbook example of what the framers wanted to avoid,” warning that “self-enrichment is exactly what the founders feared most in a leader.” Harvard professor Steven Levitsky added, “I have never seen such open corruption in any modern government anywhere.”

As Justin Sun’s $100 million investment unfolds, the broader implications for the intersection of cryptocurrency and politics remain under close observation. The future trajectory of $TRUMP and its impact on both markets and governance continue to raise significant questions.