Tron’s Justin Sun Puts Skin in Meme Coin Game. Pledges Profits to Charity

Users speculate that this is a tactic by the crypto billionaire to take a tax deduction.

Justin Sun holding a piggy bank with a picture of angry Pepe the Frog on it.
Created by Gabor Kovacs from DailyCoin
  • Tron’s Justin Sun has made a grand statement involving meme coins and charity.
  • As expected, interesting reactions have trailed the Tron founder’s statements.
  • The Tron founder is no stranger to making bold promises.

Hate or love him, His Excellency Justin Sun (at least that is what he prefers to be called) never fails to create excitement and get tongues wagging with his bold promises.

In the latest instance, the Tron founder has declared his intention to start trading meme coins and “promising projects” with his public wallet address, further promising to donate any profits to charity.

In about three hours, the tweet has garnered over 800,000 views and 4,000 likes at the time of writing, as some users speculate that this is a tactic by the crypto billionaire to take a tax deduction.


Glassnode’s tax compliance service Accointing commented, “His exelency reducing taxes and doing good for the world with meme coins, you love to see it.”

Crypto Rand, @crypto_rand on Twitter, also supported this view, tweeting, “Tax loss?”

These jibes are unsurprising as the Tron founder has a history of not putting his money where his mouth is, as highlighted in the instances below.

Sun Pledges $5 Billion to Revive the Crypto Industry

In July 2022, the crypto industry was coming to grips with the fact that it was firmly in a bear market cycle as the cracks caused by the Terra ecosystem collapse started to show. Popular lenders like Voyager and Celsius were on the brink of filing for bankruptcy, and there was a lot of talk about bailouts.


Not to be outdone, Sun declared that he would spend $5 billion on efforts to revive the industry.

Of course, after this declaration, there was no further word on the $5 billion initiative. 

At the start of a new year, it is not uncommon for people to set ambitious targets for themselves. However, Sun’s resolutions for 2023 are in a class all by themselves.

The Tron founder claimed he planned to get five countries to accept TRX as legal tender, including China.

Sun still has time on this promise, but there is no sign that he has made any effort to act on it or that China is interested. 

Sun Offers to Buy Credit Suisse

By March 2023, cracks in the banking system due to the Fed’s rate hike regime began to show as banks like Silicon Valley Bank, Silvergate Bank, and Signature Bank crashed quickly.

The contagion notably spread to Europe as Credit Suisse was also reported to be in danger. Jumping on the hype surrounding the news, Sun offered to purchase the bank for $1.5 billion with plans to “integrate it into the Web3.0 world.”

This deal never happened, as with other grand schemes from Sun.

On the Flipside

  • Scammers are already attempting to take advantage of Justin Sun’s latest campaign by creating fraudulent projects and buying the tokens pretending to be the Tron founder, according to a PeckShieldAlert report.

Why You Should Care

Despite his reputation, the Tron founder remains significantly influential in crypto. Aside from sparking conversation, Sun’s statements can also influence markets.

Justin Sun once promised to serve as a matchmaker for Vitalik Buterin; read more:

Did Vitalik Buterin’s Rumored Breakup Cause Ethereum’s Drop?

Read this to find out more about Bittrex’s bankruptcy proceedings:

Bankrupt Bittrex to Fund Proceedings with Bitcoin Loans

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.