Trump Hosts Meme Coin Contest Winners Amid Legal Dispute Involving Justin Sun
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President Donald Trump hosted winners of his second annual meme coin contest at his Mar-a-Lago club in Palm Beach, Florida, on Saturday, offering top buyers of his $TRUMP cryptocurrency an audience with him even as the token's value has plunged more than 95% from its peak last year.
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Common DreamsThe president's $TRUMP meme coin debuted just before his January 2025 return to the White House. Its price soared by more than 50% after its website announced last April that the coin’s top 220 investors would be invited to a private gala dinner with the president. The watchdog Citizens for Responsibility and Ethics in Washington (CREW) revealed that invitees included dozens of investors in crypto assets named after white supremacist and outright Nazi themes.
ZeroHedgeThe White House has reportedly confirmed that US President Donald Trump will attend the exclusive event for top TRUMP memecoin holders at his Florida residence on Saturday, after questions were raised earlier this month over whether he would attend.
BBC BusinessHe also bought $100m of Trump's meme coins in July 2025, as well. But Sun alleged that those running World Liberty, including another co-founder, Chase Herro, are using it as a "golden opportunity to leverage the Trump brand to profit through fraud".
RealClearMarketsAs the Trump family’s crypto dealings raise more alarms, crypto enforcement is falling to new lows Read Full Article »
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Among the top $TRUMP wallets, according to blockchain data, is one linked to crypto billionaire Justin Sun, who finished first in the contest for the second consecutive year.
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BBC BusinessSun said his backing was driven by the Trump family's association with the project and his long-standing support for cryptocurrencies.
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In a social media post, World Liberty co-founder and CEO Zach Witkoff, the son of Trump administration special envoy Steve Witkoff, called the lawsuit "meritless," and accused Sun of "misconduct that required World Liberty to take action to protect itself and its users." Sun did not respond to a request for comment.
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BBC BusinessZach Witkoff, another co-founder of World Liberty and the son of President Trump's Middle East envoy Steve Witkoff, said Sun's lawsuit is a "desperate attempt to deflect attention from Sun's own misconduct".
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 CNBC The gala took place as scrutiny of the Trump family's broader crypto ventures has intensified, with Democratic leaders calling for investigations.
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02 ZeroHedge When the event was announced in March, a White House official told Politico that it was not locked into Trump’s schedule and that it was taking place the same day Trump said he would attend the White House Correspondents’ Association Dinner in Washington, DC, the first time he would do so as president.
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03 Common Dreams "The Trump family has made $4 billion off the presidency," Sanders (I-Vt.) said on X following reporting by New Yorker staff writer David Kirkpatrick and others detailing how Trump and relatives have profited from his position during his second term.
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04 National Review Economy In one incident, Jiang Wen Jie allegedly helped defraud an American of $3 million.
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05 BBC Business Justin Sun has accused World Liberty of an "illegal scheme" to seize his WLFI tokens, a cryptocurrency issued by the company.
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Sources (6)
- zerohedge
- commondreams
- nationalreview-econ
- rcmarkets
- cnbc
- bbc-biz