Justin Sun Backs TRUMP Memecoin After High-Profile Political Dinner—’They’re Not Just Jokes’

TRON founder Justin Sun doubled down on his support for the TRUMP memecoin following a controversial dinner with the former president—claiming the asset class has ’real utility.’

Sun’s defense comes as critics dismiss political tokens as speculative gambles. But with trading volumes hitting nine figures, even Wall Street’s rolling its eyes while quietly watching the charts.

He described the dinner as a clear sign the U.S. is regaining its status as the crypto’s global hub, marking a sharp reversal from the Biden administration’s war on the industry, which had previously prompted crypto firms to consider offshore moves.

"At the Trump dinner, some supporters told me they were thinking of leaving the U.S. because of the Biden administration, moving to places like Hong Kong or Singapore," Sun said. "Even Consensus started holding events outside of the United States."

"But now they’ve changed their minds. It brings everybody back into the United States," he continued.

Criticism of Trump’s decision to launch a memecoin has come fast and furious from mainstream media, including attempts to LINK holders of the token to white nationalism.

Sun dismissed this criticism by emphasizing that critics have every right to express their views under the First Amendment.

While protesters met the memecoin faithful who attended the TRUMP dinner, skepticism about meme coins isn’t limited to outsiders.

At a fireside chat during Consensus 2025, Barstool Sports founder Dave Portnoy described meme coins as essentially "gambling," questioning their longevity.

"I get why people like it," Portnoy said. "It’s a FORM of gambling, it’s a Ponzi scheme. I don’t mean that in a negative way."

Sun disagrees. Rather than viewing meme coins as gambling or Ponzi schemes, he positions them as legitimate segments of digital asset markets.

Sun pointed to tokens like DOGE and SHIB as examples of success stories that have helped onboard users into crypto. He emphasized that Tron’s goal is to support "every single piece in crypto to grow and become mainstream."

"I totally think memecoins have merit," Sun told CoinDesk. "It’s just like doing business. Some succeed, some go to zero. That’s entrepreneurship."