Justin Sun, founder of the TRON blockchain network, has committed to purchasing $100 million worth of the $TRUMP token, a meme cryptocurrency associated with former U.S. President Donald Trump. Sun described $TRUMP as "the currency of MAGA" and expressed intentions to popularize the token in Asia and globally. This move reinforces the integration of $TRUMP on the TRON network and reflects Sun's strategy to deepen ties with Trump-linked crypto ventures. The $TRUMP token has experienced substantial volatility, trading near yearly lows and down approximately 90% from its all-time high, yet it has surged 114% since its launch. Sun's $100 million commitment comes shortly before a scheduled $474 million token unlock. The purchase has drawn attention amid Sun's previous investigation by the U.S. Securities and Exchange Commission (SEC). Sun’s investment in $TRUMP is also viewed as part of a broader competition for political influence in the crypto space, contrasting with Elon Musk’s substantial campaign donations totaling $281 million. Sun aims to elevate $TRUMP as a global crypto brand, highlighting the evolving intersection between politics and cryptocurrency markets.
JUST IN: $370M WORTH OF TRUMP TOKENS (20% OF SUPPLY) SET TO UNLOCK TOMORROW IN FINAL MAJOR RELEASE Source: @SolanaFloor https://t.co/VY1JIjBuWT https://t.co/hdniROT7rX
🚨UPDATE: 40M $TRUMP tokens (20% of supply), worth $370M, set to unlock tomorrow. This is the largest remaining unlock and will enter circulation. https://t.co/Dp6891QCLi
$TRUMP will unlock 20% of its supply tomorrow. 40 million tokens, valued at $370 million, will enter circulation. This is the largest remaining unlock. https://t.co/ZDF48OqhxS