Cryptocurrency billionaire Justin Sun recently showcased a $100,000 Donald Trump-branded watch he received at a private dinner at Trump's Virginia golf club. This event, along with a White House tour for top memecoin buyers, generated around $148m in sales, much of it from anonymous and foreign buyers.

Memecoins like the token have raised ethical concerns, with experts criticizing Trump for exploiting his office for personal gain. Scholars and former prosecutors have condemned Trump's crypto dealings as examples of open corruption.

Despite the criticism, Trump and Sun have continued their partnership, with Sun investing $75m in Trump's crypto enterprise. Trump's administration has also relaxed regulations on cryptocurrencies, benefiting Sun and other industry leaders.

Trump's pursuit of crypto wealth marks a significant departure from his previous skepticism of cryptocurrencies, with his administration now actively promoting the industry. Critics worry that Trump's deregulatory agenda could lead to increased risks and conflicts of interest in the crypto sector.