doubts for the SEC of the USA about his ties with Trump

The Securities and Exchange Commission (SEC) of the USA questions the ties of Justin Sun, CEO of Tron, with the President of the United States Donald Trump. Sun will participate in a gala dedicated to the major holders of the memecoin TRUMP. 

Justin Sun and the ties with Trump: the US SEC questions its Chairman Paul Atkins

The Securities and Exchange Commission (SEC) of the USA discussed with President Paul Atkins about some events concerning Justin Sun and Donald Trump. 

During the Congressional hearing, Representative Glenn Ivey, D-Md, asked Atkins for information about the events of the past months concerning Sun and the crypto enterprises linked to Trump.

Atkins, who has held his role for only a month, would have responded to the legislators’ strict questions by stating that they could pose a problem.

Specifically, among the events mentioned, the first concerns the case of the SEC against Sun, an event that occurred before Atkins took office. 

Here, before Trump won the November elections, Sun was facing a lawsuit filed by the SEC in 2023, with the accusation in April 2024 of having sold unregistered securities through various offerings.

In February 2025, about a month after Trump’s inauguration, the SEC and Sun jointly filed a request to suspend the case with a federal judge, which was granted.

Another episode that reinforces the doubts about the Sun and Trump connection concerns the World Liberty Finance project, supported by the Trump family. In fact, last March, Sun invested 30 million dollars during the WLFI token presale, available only for accredited investors.

Justin Sun and Trump: the SEC also investigates memecoin

Arriving at these days, another event that involves Sun and Trump, concerns the President USA’s memecoin, TRUMP. 

In fact, just yesterday, Sun posted on X that he was invited to the grand gala dedicated to the biggest holders of TRUMP. 

Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!

As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry. 🇺🇸 https://t.co/FYb39LTwDz

— H.E. Justin Sun 🍌 (@justinsuntron) May 20, 2025

“Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s gala dinner as his TOP fan! As a holder of $TRUMP, I am excited to connect with everyone, talk about cryptocurrencies, and discuss the future of our sector.”

In practice, Trump has launched his own memecoin TRUMP and will host a gala at the end of this week for the 220 major holders, including Sun. 

In this regard, the representative Ivey said:

“This, frankly, smells very fishy to me. My hope is that the SEC investigates this piece”.

At the same time, Atkins stated that Sun’s case is an “active case” and noted that the SEC has asserted that memecoin are not securities. 

Conflicts of interest block the GENIUS Act

Staying on the topic of Trump and potential conflicts of interest in the crypto world, it is therefore necessary to mention the blocking of the GENIUS Act, the proposed regulation on US stablecoins.

In fact, the United States Senate has decided to block this bipartisan bill, with a vote of 48 in favor and 49 against.
This proposal of the GENIUS Act came as Trump was clearly siding with the crypto industry.

However, the block aligns with the growing concerns of possible conflicts of interest related to Trump’s crypto sector financial activities.