Tron founder Justin Sun has announced his commitment to purchasing $100 million worth of President Donald Trump’s official TRUMP memecoin. This announcement was made on Wednesday via Sun’s X account, just days before a scheduled $474 million release of vested Trump tokens.
This move further solidifies the growing relationship between Sun and Trump’s crypto-related initiatives, as well as the broader integration of the TRUMP memecoin into the Tron blockchain.
Sun referred to the purchase as a "commitment to buying $100 million of TRUMP," and stated, "Together, TRUMP and TRON are the future of crypto. This move highlights our belief in collaborating across ecosystems to expand the crypto landscape with communities such as @GetTrumpMemes.” His statement emphasizes Tron’s intention to forge partnerships across various networks, with the TRUMP token set to launch natively on the Tron blockchain soon.
The news arrives just 10 days before a significant release of Trump memecoins, valued at $474 million, set to enter the market. At launch in January, an additional 20% of the total token supply generated by Uber was made available, while 80% was locked and will be gradually released over a three-year period. CIC Digital and Fight Fight Fight, both companies owned and operated by Trump, hold most of these tokens, with Trump retaining a majority stake.
The forthcoming release has attracted the attention of both cryptocurrency investors and political analysts. Once unlocked, the majority of these tokens, which are still under the control of Trump and his affiliated companies, could flood the market, potentially affecting prices and trading volumes. As of Wednesday, the TRUMP token was trading at $9.18, reflecting a 7% daily increase, although it remains down 87% from its all-time high in January.
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Sun’s $100 million pledge is not his first major foray into Trump-linked tokens. In late 2023, Sun bought $30 million in World Liberty Financial’s WLFI tokens, which the Trump family supports. He later increased his stake to $75 million, ultimately becoming an advisor to World Liberty. Earlier this year, Sun spent nearly $20 million on TRUMP memecoin to secure his position as the largest holder and attend a gala dinner hosted by the president.
The evolving alliance between Sun and Trump has been the subject of ongoing regulatory scrutiny. The US Securities and Exchange Commission paused its fraud case against Sun in February. According to a recent filing, the SEC is considering a possible resolution, signaling a shift under the current administration's more crypto-friendly climate.