On June 16, TRON will go public through a reverse merger with SRM Entertainment, a NASDAQ-listed company, with the transaction orchestrated by Dominari Securities, a New York-based boutique investment bank associated with Donald Trump and Eric Trump.
One source indicated that the newly formed company will purchase and hold TRON tokens (TRX), mimicking Strategy's (formerly MicroStrategy) strategy. The source also revealed that Eric Trump is expected to hold a position in the new company, which will be named Tron Inc.
In the transaction, TRON is expected to inject up to $210 million in token assets into the new company. This marks the latest in a wave of crypto transactions following Trump's second presidential term, characterized by a friendly attitude toward the crypto asset industry.
In 2023, the SEC had accused Jutsin Sun and his three companies (including TRON) of allegedly selling unregistered securities and market manipulation. In February this year, after Trump expressed a desire for "more lenient regulation" in the crypto industry, the SEC and Jutsin Sun jointly filed a motion with the court to suspend litigation, seeking a potential settlement.
