Tron’s Justin Sun Plans Major Trump Memecoin Purchase
Tron founder Justin Sun has announced plans to buy $100 million worth of the Official Trump (TRUMP) memecoin. Despite trading near yearly lows, the token has attracted notable supporters. On July 9,Sun declared his intention to invest through various ventures.
Sun believes in the potential of TRUMP and TRON. “We are committed to buying $100M of TRUMP! Together, TRUMP and TRON are the future of Crypto,” he stated on social media. This move underscores his vision of cross-ecosystem collaboration to expand the crypto landscape.
Currently, Sun is the largest holder of the Trump memecoin. He owns 1.4 million tokens, valued at around $12.6 million.His investment aims to boost the crypto’s value and visibility. He sees TRUMP and TRON as key players in the crypto world. He aims to strengthen ties with communities like @GetTrumpMemes. He views TRUMP on TRON as the currency of the MAGA movement. His backing comes ahead of a VIP dinner with top holders. His holdings, once worth $19 million, now valued at $12.6 million.
Sun’s involvement extends beyond TRUMP. He invested $75 million in World Liberty Financial (WLFI), earning an advisor role. WLFI made TRON a reserve asset, holding $9.63 million in January. On July 7, TRUMP announced its launch on the Tron blockchain for more exposure.
Despite these efforts, TRUMP’s price remains low, trading below $9. It’s down nearly 90% from its January high of $75.35. His ties to Trump’s crypto ventures have raised questions. His WLFI investment coincided with the U.S.SEC pausing its investigation into his other projects.
