China-born crypto tycoon Justin Sun said he is the highest holder of the symbol of Trump meme and will have dinner with President Donald Trump.

Dinner Competition - a raffle draw, offering the chance to party for the current U.S. president - open to anyone around the world willing to spend millions of dollars in Trump-related digital coins.

The first $220 Trump holder was invited to have dinner with the president at the Virginia Golf Club outside Washington, D.C. on Thursday

On Monday night, Sun posted on X the No. 1 he won on the Trump token rankings, which invited him to have dinner with the president and provided a VIP reception for the top 25 holders.

"It's an honor to support @potus and thank @gettrumpmemes for his invitation to President Trump's grand dinner, his top fan!" he wrote. “As Trump’s top holder, I’m excited to connect with everyone, talk about cryptocurrencies, and discuss the future of our industry.”

Sun now owns a Trump-themed meme token worth $18.6 million, a separate cryptocurrency that ships 75% of the platform’s revenue directly to Trump-owned entities, in addition to the $75 million he previously poured into World Free Finance.

Overall, Suns now has more than $93 million in the Trump family's crypto empire.

Born in China, Sun is the crypto entrepreneur behind the Tron blockchain and is negotiating with the Securities and Exchange Commission to resolve allegations of civil fraud.

His case was suspended in February, soon after investing tens of millions of dollars in the world's free WLFI token.

About 80% of Trump coins are controlled by Trump organizations and branches, with value rising about 2% on Tuesday to $13.27, according to CoinMarketCap.com. This values ​​the revolving supply of $2.65 billion, making it the 39th most valuable cryptocurrency. Bitcoin The most valuable one is $2.1 trillion.

Like other meme coins, there is no potential product.

The project's website says the coins are "not intended or subject of any type of investment opportunity, investment contract or security".

The SEC released a guide in February saying that most meme coins are not considered securities under U.S. federal law.

Regulatory team responsibility.

“This suspicious situation perfectly sums up why this $Trump coin contest will always be a foreign influence, unprecedented self-communication and the next level of wet magnet,” said Tony Carrk, executive director of calling.us.us.us.

The nature of the pseudonym wallet raises questions about the true identity and motivation of the token's largest holder.

CNBC reviews documents from blockchain analytics firm Inca Digital, which shows that the first $275 Trump token holders send and receive tokens. Many people are closely associated with international exchanges like Binance, which does not serve American customers, suggesting they may not be U.S. citizens.

A Bloomberg analysis shows that 19 of the top 25 wallets are almost certainly owned by people outside the United States

The now closed rankings capture the extraordinary concentration of wealth and influence behind the volatile assets launched a few days before the inauguration.

More than $5.2 billion in realised earnings have flowed to the best-performing wallets, while more addresses (over 590,000) have lost a total of $3.9 billion, according to Inca Digital.

Democrats have issued an alert on the bravest paid plan in U.S. presidential history, warning that Trump’s strong financial ties to $trump Meme Coin and his use of the White House to increase its value poses serious risks to national security and public trust.

Senator Richard Blumenthal, a ranking member of the Senate Subcommittee on Inquiry, said the growing cryptocurrency holders of the Trump family could be a backdoor to seeking contact with the president’s foreign and corporate interests.

He also called the competitor “an unprecedented paid plan to provide access to the presidency.”

D-Ore. Senator Jeff Merkley and Senate Minority Leader Chuck Schumer (DN.Y.) introduced the End Crypto Corruption Act to prevent elected officials and senior executives from issuing or endorsing digital assets.

D-Calif's Rep. Maxine Waters cheated on the digital asset hearing to convene a Democratic meeting targeting Trump's crypto empire only.

Meanwhile, Senator Elizabeth Warren has demanded a moral investigation into the agreement between Trump's cryptocurrency company and the UAE's sovereign wealth fund, warning that it could violate federal bribery laws. She also raised questions about the White House exemption granted to Crypto Czar David Sacks, who reportedly advised on crypto policies when investing in the space.

But with Republicans controlling both the White House and Congress, Democrats have little real power to advance legislation or open up formal investigations. Their push has been largely symbolic so far – a large messaging campaign aimed at attracting public attention, who sees them as unchecked corruption at the intersection of politics and cryptocurrencies.

watch: Eric Trump draws US Bitcoin public and family to grow crypto empire