Reports indicate that Justin Sun, the founder of Tron (TRX), recently bought $75 million worth of Trump Tokens, causing widespread reactions in the crypto industry. This large purchase coincided with the settlement of Sun’s legal case with the U.S. Securities and Exchange Commission (SEC). However, CNN reported that the $75 million was spent on buying World Liberty tokens, backed by the Trump family, raising speculations about the impact of Sun’s investments in projects related to the U.S. President on his legal case. Meanwhile, a crypto whale sold around $61 million worth of Trump Tokens, increasing selling pressure. In the last 24 hours, the crypto market has been under intense pressure, with over $1 billion liquidated. Bitcoin’s price dropped by about 10%, and altcoins faced heavy losses. Trump Token’s price also decreased by 20% amid this downward trend, now trading around $12.26. In the past 24 hours, the token’s price fluctuated between $11.83 and $15.67. Responding to these developments, The Wolf Of All Streets, a renowned crypto investor, sarcastically commented: ‘Looks like Trump Token is really useful!’ This statement has triggered various reactions among investors.
