Billionaire Justin Sun is reportedly gearing up to take Tron public following the end of US regulators’ investigation into him and the group.
Citing “two people briefed on the matter,” Financial Times reports that Tron will go public via a reverse merger with SRM Entertainment, managed by New York-based boutique investment bank Dominari Securities – a firm that has ties to President Trump’s sons Donald Jr. and Eric.
[adinserter block="1"]According to FT, Sun’s new venture will be called “Tron Inc.” and copy the treasury method of Michael Saylor’s firm Strategy, but instead of Bitcoin (BTC), will accumulate TRX, the native token of the Tron network.
FT’s sources say that Eric Trump will hold a major role in the company, and that the deal will also involve a $210 million injection of crypto assets.
In a separate press release, SRM Entertainment announced it was entering into a Securities Purchase Agreement (“SPA”) with an unnamed private investor for a $100,000,000 equity investment that will be used by SRM to initiate a TRON token treasury strategy.
Sun was named as an advisor to the company.
Shares of SRM Entertainment (SRM) skyrocketed as much as 647% early on Monday, and at time of writing, are currently up 453% on the day.
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