'Sun' username registers an HTX cold wallet for Trump's memecoin holders' dinner: Arkham

Someone with the username "Sun" appears to have registered for President Donald Trump's upcoming gala to be hosted for his official memecoin holders, according to Arkham Intelligence. The move has raised suspicions that the address may be connected to Tron founder Justin Sun, a notable supporter of the sitting president.

The Sun username is registered to an HTX cold wallet previously labeled by the blockchain analysis firm. Sun is an advisor to the HTX crypto exchange as well as an investor in the Trump-backed DeFi project World Liberty Financial. 

Trump's memecoin project announced on Wednesday that it will host the top 220 TRUMP token holders at his private golf club in the nation's capital, Washington D.C., on May 22. Holders were encouraged to "hold as much TRUMP as you can" from April 23 to May 12, which will determine their ranking. The token subsequently jumped around 60%, according to The Block's Official Trump price page.

The address in question holds 1.18 million TRUMP, currently worth around $14.5 million — making it the largest wallet by token holdings to register for the gala so far. However, as the leaderboard to attend the dinner is based on time-weighted TRUMP holdings, factoring in both the amount and duration held, "Sun" is currently ranked 12th overall. The top username holds just 400,005 TRUMP by comparison, but their time held equates to a much larger weighted value.

Sun has gained a reputation in his public life as someone willing to make grand statements, including paying nearly $5 million at a charity auction to have lunch with Warren Buffett and purchasing Maurizio Cattelan's conceptual artwork "Comedian," consisting of a banana taped to a wall, at a Sotheby's auction. However, the username could have been registered by anyone able to connect the wallet address to the Trump Meme website.

The wallet also holds a variety of other crypto assets, including Solana, Bonk, Fartcoin and the First Lady's official MELANIA memecoin, totaling nearly $66 million, per Arkham data.

Pro-crypto president

Since Trump took office on Jan. 20, he has taken a friendlier approach to crypto, tapping agency chairs that are viewed as open to the industry and recently hosted a crypto summit. The TRUMP memecoin was launched just before the president's inauguration, criticized by some crypto insiders who said it "distracts from the greater good," given crypto's reputational risk. His wife, Melania Trump, shortly followed suit with a memecoin of her own.

Of the 220 going to the gala, the top 15 TRUMP holders are invited to an "exclusive reception before dinner with your favorite president," and will also get a "VIP White House Tour," according to the website.

The Block reached out to Justin Sun and HTX for comment.