The biggest holder of the cryptocurrency token of President Trump is the entrepreneur Justin Sun, the billionaire revealed on Tuesday – earned him an invitation to a controversial dinner this week organized by Mr. Trump for the biggest donors in his meme.
Sun announced that he would assist Thursday evening dinner at the Trump DC Golf Club DC – which is open to the 220 largest holders in the same $ Trump – in a PublishDescribing itself as the “high fan” of the president.
“As a superior holder of $ Trump, I am delighted to connect with everyone, to talk about crypto and to discuss the future of our industry,” wrote Sun, who founded the Blockchain Tron and faced a securities trial of federal regulators of the Biden era.
The same corner website lists The biggest holder of $ Trump as someone with the “Sun” username that has around 1.4 million tokens – worth around $ 19 million at Tuesday commercial prices.
In addition to the dinner for the 220 best holders of $ Trump, the president also organizes an “exclusive reception” in his Northern Virginia club for the 25 best holders of the token. Sun did not immediately answer when asked by CBS News if he would attend the smaller reception.
What is the room even $ Trump – and why is it controversial?
The same part was launched in January, a few days before the inauguration of Mr. Trump. A affiliate of the Trump organization and a company called Fight Fight Fight LLC controls 80% of the total supply of the part.
Parts even are a type of cryptocurrency whose value is mainly motivated by online buzz, especially on social networks. They generally have no intrinsic value and are not used for transactions. Like many coins, $ Trump is known for erratic price changes: Its price culminated at around $ 75 shortly after its launch, but fell at less than $ 8 in early April.
But at the end of last month, the price crowded After the dinner was announced with Mr. Trump. Buyers spent more than $ 140 million Buy the $ Trump parts in the hope of obtaining an invitation to the event, according to the Inca Digital data analysis company.
Trump had previously promised on social networks to “ensure that the United States is the cryptographic world capital”. The president and his two eldest sons, Donald Trump Jr. and Eric Trump, support the World World of Crypto Exchange Liberty Financial, and Crypto represents some $ 2.9 billion in Mr. Trump’s net value according to a recent report.
Eric Trump, in January, called the $ Trump play “The hottest digital meme in the world”.
The promotion of private marketing from $ Trump – and the president’s bonds with global freedom – have raised concerns among government’s childcare dogs and democratic legislators concerning conflict of potential interests.
Senate Monday Advanced an invoiceNicknamed the Act on Engineering, which would regulate so-called stablescoins-a type of cryptocurrency linked to the value of an asset such as the US dollar or gold. The bill was faced with certain declines of democrats who have pressure for anti-corruption rules, often citing the assets of Mr. Trump’s crypto.
“What is the practice: the day after the Senate, the Engineering Act, Justin Sun – an important investor in the Crypture Venture of Trump Family – announces that he obtains a private dinner as the best crypto buyer of the president,” said the Sen.elizabeth Warren, the best democrat of the Senate banks committee, in a press release.
The White House has licensed criticism Trump’s support for the cryptographic sector represents a conflict of interest, noting that his assets are held in a trust managed by his children.
“The president strives to make good deals for the American people, not for himself. President Trump acts only in the best interest of the American public-that is why they massively re-elected him to this office, despite years of lies and false accusations against him and his companies of the false media,” said the White House spokesman Anna Kelly on Tuesday.
Who is Justin Sun?
The sun has a net value 8.5 billion dollars, according to Forbes. It is best known for the Tron blockchain – and for Pay $ 6.2 million Auction for a banana that the artist Maurizio Cattelan approached a wall, which the sun quickly ate as part of a “unique artistic experience”.
Sun says his business also has invested with tens of millions in the world linked to Trump Liberty Financial.
He was heard By the values commission of the Biden era and the exchange for allegedly “fraudulently manipulating the secondary market” for a crypto token created by its company. The trial also accused his business of paying celebrities like Lindsey Lohan and Jake Paul to promote the token “without disclosing their compensation”. Sun avocados have rejected On the costume.
But earlier this year, dry and sun accepted to take a break The trial to “explore a potential resolution”. The stop was part of a broader change in the Trump administration to facilitate the application of cryptocurrencies.
