TRON founder Justin Sun announced the purchase of $100 million worth of the meme coin TRUMP. This event comes amidst the token's launch on the TRON network and the strengthening relationship between the two projects.
Purchase of the Meme Coin TRUMP
On July 9, Justin Sun announced the purchase of $100 million worth of the meme coin TRUMP. It was noted that on July 7, the DAO behind the development of TRON announced the migration of TRUMP to its network. Following the announcement, the token's price rose by 2.7%, reaching $8.89.
Development of the Relationship between TRON and TRUMP
Over time, a mutual support relationship developed between TRON and TRUMP. In November 2024, weeks after Trump's election, Sun announced a $30 million investment in World Liberty Financial (WLF). Later, he increased his stake in the WLF token to $75 million, and in January 2025, WLF added $4.7 million to TRON's investment portfolio.
Legal Issues and the SEC
In 2023, the SEC filed charges against Sun and three of his companies, including TRON Foundation Limited, for an unregistered offering of securities in the form of TRON (TRX) and BitTorrent (BTT) tokens. In February, Sun and the SEC filed a motion with the court to stay the litigation seeking its dismissal. It was noted that since Trump's ascent to the White House, regulators have ceased pursuing several cryptocurrency companies.
Justin Sun's investment in the meme coin TRUMP and his support of World Liberty Financial highlight the increasing ties between different projects in the crypto space. However, legal challenges remain a significant concern.
