The cryptocurrency project Tron is preparing for a listing on the Nasdaq exchange by merging with SRM Entertainment through a reverse merger organized by investment bank Dominari Securities. This move comes four months after the U.S. Securities and Exchange Commission (SEC) suspended its investigation into Tron founder Justin Sun.
This is reported by Бізнес • Медіа
Details of the Deal and Connections to Trump’s Circle
According to reports, Tron and SRM Entertainment are merging via an RTO (reverse takeover), with the new company, Tron Inc, set to receive up to $210 million in Tron (TRX) tokens. The merger is being organized by Dominari Securities, which, according to journalists, has ties to Donald Trump’s sons. It is also possible that Eric Trump may take on a leadership role in the new company.
Tron Inc’s financial strategy will focus on accumulating digital assets, similar to the approach of Strategy (formerly MicroStrategy). This deal highlights a closer collaboration between Justin Sun and the Trump family. It is known that Sun previously invested $75 million in the World Liberty Financial project, where Trump has already earned over $57 million in revenue and has attended events at his golf club. Additionally, a stablecoin, USD1, was issued on the Tron blockchain for World Liberty.
Market Reaction and Company Positions
Following the news of the merger, shares of SRM Entertainment surged by 269%, bringing the company’s market capitalization to $25 million. Dominari Securities, headquartered in Trump Tower, continues to strengthen its connections with the U.S. president’s circle. Among the investment bank’s clients are also technology projects of Elon Musk, including SpaceX and xAI, indicating a focus on the tech sector.
In light of the merger news, the cryptocurrency Tron experienced moderate growth—its price increased by 1.6% over the day, with a monthly growth of 2.5%. At the time of preparing this material, the TRX price remained at $0.278, according to TradingView.
“The change in regulatory approach during Trump’s second term has led the agency to drop its pursuit of many industry players, experts noted.”
The Tron team, Justin Sun, and representatives of SRM Entertainment have yet to comment on the merger preparations. It is also noted that the Tron network has already surpassed the milestone of 10 billion transactions.
Hourly chart of TRX/USDT on Binance. Data: TradingView.