The final time Justin Solar set foot within the U.S. he was Grenada’s WTO ambassador and was navigating the rocky waters of former President Biden’s crypto crackdown.
Instances have modified. Now, he is eating at an occasion hosted by President Donald Trump for the most important holders of his TRUMP memecoin and celebrating a regulatory breakthrough, as issuers eye a possible Tron ETF, signaling a placing reversal in crypto’s American fortunes.
Talking completely with CoinDesk after the Presidential dinner, which was met by protestors, the Tron founder dismissed allegations that the token is a automobile for bribery. He known as skeptics short-sighted, arguing Trump’s embrace of crypto may spark a brand new period of digital asset innovation in America.
“All of the haters want to actually listen,” Solar instructed CoinDesk, describing Trump’s assist for crypto as one of many President’s greatest selections.”There are optimistic issues taking place within the trade.”
Solar’s relationship with Trump’s affiliated crypto ventures stretches again to only after final yr’s election, when he purchased as much as $75 million value of World Liberty Monetary tokens throughout a number of tranches.
Shortly after Trump took workplace, his Securities and Change Fee (SEC) paused a civil fraud case towards Solar, alongside crypto trade Binance; the SEC additionally withdrew from or dropped a dozen different instances, although it simply filed a contemporary civil fraud lawsuit towards Unicoin earlier this week. And earlier on Thursday, the Wall Road Journal reported that the Division of Justice, which pursues felony instances, had been investigating the Tron founder since 2021.
Learn extra: The place All of the SEC Circumstances Are
He described the dinner as a transparent signal the U.S. is regaining its standing because the crypto’s world hub, marking a pointy reversal from the Biden administration’s warfare on the trade, which had beforehand prompted crypto corporations to contemplate offshore strikes.
“On the Trump dinner, some supporters instructed me they had been pondering of leaving the U.S. due to the Biden administration, shifting to locations like Hong Kong or Singapore,” Solar mentioned. “Even Consensus began holding occasions exterior of the US.”
“However now they’ve modified their minds. It brings everyone again into the U.S.,” he continued.
Criticism of Trump’s choice to launch a memecoin has come quick and livid from mainstream media, together with makes an attempt to hyperlink holders of the token to white nationalism.
Solar dismissed this criticism by emphasizing that critics have each proper to specific their views underneath the First Modification.
‘Memecoins have advantage’
Whereas protesters met the memecoin devoted who attended the TRUMP dinner, skepticism about meme cash is not restricted to outsiders.
At a fireplace chat throughout Consensus 2025, Barstool Sports activities founder Dave Portnoy described meme cash as primarily “playing,” questioning their longevity.
“I get why folks prefer it,” Portnoy mentioned. “It’s a type of playing, it’s a Ponzi scheme. I don’t imply that in a unfavorable manner.”
Solar disagrees. Slightly than viewing meme cash as playing or Ponzi schemes, he positions them as professional segments of digital asset markets.
Solar pointed to tokens like DOGE and SHIB as examples of success tales which have helped onboard customers into crypto. He emphasised that Tron’s objective is to assist “each single piece in crypto to develop and change into mainstream.”
“I completely assume memecoins have advantage,” Solar instructed CoinDesk. “It’s identical to doing enterprise. Some succeed, some go to zero. That’s entrepreneurship.”
UPDATE (Could 23, 06:15 UTC): Provides particulars on Solar’s earlier investigations and extra background.
