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.
Occasions 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 putting reversal in crypto’s American fortunes.
Talking solely with CoinDesk after the Presidential dinner, which was met by protestors, the Tron founder dismissed allegations that the token is a car for bribery. He known as skeptics short-sighted, arguing Trump’s embrace of crypto might 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 help for crypto as one of many President’s greatest selections.”There are constructive issues occurring within the trade.”
Solar’s relationship with Trump’s affiliated crypto ventures stretches again to simply after final yr’s election, when he purchased as much as $75 million price of World Liberty Monetary tokens throughout a number of tranches.
Shortly after Trump took workplace, his Securities and Alternate 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 conflict on the trade, which had beforehand prompted crypto companies to think about 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 outdoors of the US.”
“However now they’ve modified their minds. It brings all people again into the U.S.,” he continued.
Criticism of Trump’s determination 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 precise their views below the First Modification.
‘Memecoins have benefit’
Whereas protesters met the memecoin trustworthy 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 destructive method.”
Solar disagrees. Reasonably than viewing meme cash as playing or Ponzi schemes, he positions them as respectable 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 purpose is to help “each single piece in crypto to develop and develop into mainstream.”
“I completely assume memecoins have benefit,” Solar instructed CoinDesk. “It’s similar 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.
