The cryptocurrency project Tron is preparing to go public on the American stock exchange Nasdaq through a reverse merger with SRM Entertainment. This strategic move comes four months after the U.S. Securities and Exchange Commission (SEC) suspended its investigation against Tron founder Justin Sun.
This is reported by Finway
Deal Structure and Influence of Trump’s Circle
According to media reports, Tron will merge with SRM Entertainment with the assistance of the investment bank Dominari Securities. Journalists note that this structure has ties to Donald Trump’s sons. Upon completion of the deal, the newly formed company Tron Inc will receive up to $210 million in Tron (TRX) tokens. It is also possible that Eric Trump will hold a leadership position in this company.
The financial model of Tron Inc will resemble the strategy of Strategy (formerly MicroStrategy), which focuses on accumulating digital assets. The deal occurs against the backdrop of Justin Sun’s growing ties with the Trump family, as highlighted by the Financial Times.
SEC, Market Reaction, and Participants’ Positions
In 2023, Justin Sun and his associated companies were accused of violating securities laws and market manipulation. However, in February 2025, the parties filed a joint motion to halt the case, paving the way for negotiations. Experts note that the new regulatory approach during Trump’s second term has led to a more lenient stance from the SEC towards many participants in the crypto market.
“The change in regulatory approach during Trump’s second term has resulted in the agency backing off from pursuing many industry players, experts noted.”
The market reacted positively to the news: SRM Entertainment’s shares surged by 269% in a short time, and the company’s market capitalization reached $25 million. Dominari Securities, headquartered in Trump Tower, continues to expand its collaboration with the U.S. president’s circle. Among the investment bank’s clients are Elon Musk’s projects, including SpaceX and xAI, indicating the company’s focus on tech firms.
In response to the merger announcement, the price of the Tron cryptocurrency rose by 1.6%, adding 2.5% over the last month. At the time of preparing this material, the TRX exchange rate is holding at $0.278. Justin Sun, the Tron team, and representatives of SRM Entertainment have so far refrained from commenting on the preparations for the reverse merger.
Additionally, the media reminded that the number of transactions on the Tron network has already exceeded 10 billion.