- Justin Sun has unveiled the plans to buy up to $100 million of $TRUMP token.
- The Tron Founder remains one of the biggest backers of TRUMP and the MAGA movement.
TRON founder Justin Sun has pledged a massive $100 million investment to boost the Official Trump ($TRUMP) memecoin. The announcement comes as the token struggles at year lows, despite its ties to former U.S. President Donald Trump and backing from major investors.
Justin Sun Strengthens His Position as Top $TRUMP Holder
Previously, we covered that GD Culture Group (GDC), a Nasdaq-listed Chinese firm and the owner behind the popular social media platform TikTok, invested $300 million in the TRUMP memecoin.
To complement this GDC move, TRON founder Justin Sun has committed to buying an additional $100 million worth of the Official Trump ($TRUMP) memecoin. This move comes at a time when the token is trading near its lowest point this year. This is happening despite its political branding and support from well-known figures.
As highlighted in our previous news brief, Sun, already the largest known holder of $TRUMP, first gained attention after securing a seat at Donald Trump’s VIP dinner for top token holders. At that time, he owned 1.4 million $TRUMP tokens, valued at approximately $19 million. Today, that same holding is worth about $12.6 million due to the token’s sharp decline.
On July 9, Sun made his latest intentions clear. “We are committed to buying $100M of TRUMP,” he posted on social media. He also stated that TRUMP and TRON would define the future of cryptocurrency.
The bold investment strategy is expected to draw fresh attention to the $TRUMP token, which has lost nearly 90% of its value since peaking at $75.35 in January. The current price sits below $9.
WLFI Connections and New TRON Blockchain Listing
Beyond his direct purchase of $TRUMP, Justin Sun has extended his influence through a $75 million investment in World Liberty Financial (WLFI), a Trump-linked crypto company. That investment earned him an advisory position within the organization. In January, WLFI listed TRON as one of its reserve assets, holding around $9.63 million in the blockchain’s native token.
CNF also reported recently that Aqua1 has invested a massive $100 million in WLFI tokens, the native governance token of the World Liberty Financial platform. The report made it clear that the investment was one of the largest in the project so far, signaling serious confidence in its future.
In a new development, the Official Trump memecoin announced on July 7 that it would be launching on the TRON blockchain. This decision is expected to enhance accessibility and liquidity for the token, thereby increasing its visibility in the broader cryptocurrency market.
Despite these efforts, the market reaction remains muted. The token’s price has not recovered significantly, and it continues to hover near post-collapse levels. Still, Sun’s continued push to position $TRUMP as the go-to token for the MAGA community may keep it in public view.
Meanwhile, as noted in our previous news article, Democrats in Congress have introduced the COIN Act. This is a new bill developed to target crypto holdings by public officials, including President Donald Trump.
Credit: Source link
