Tron, the blockchain network founded by billionaire Justin Sun, is planning to go public in the U.S. through a reverse merger with Nasdaq-listed SRM Entertainment, according to a report from the Financial Times. The deal is reportedly being facilitated by Dominari Securities, a New York-based investment bank with ties to the Trump family.
As part of the plan, a new entity called Tron Inc. will be established to acquire and hold TRX—the native token of the Tron network—mirroring the bitcoin-centric strategy employed by Michael Saylor’s MicroStrategy (MSTR). The firm is expected to receive a $210 million injection in TRX tokens from Tron.
Eric Trump, son of U.S. President Donald Trump, is expected to play a role in the new venture.
Following the news, TRX surged nearly 4% to $0.28, while shares of SRM Entertainment spiked roughly 250% to $5.10 in pre-market trading.
The move aligns with a broader trend of crypto companies entering public markets in the U.S., including stablecoin issuer Circle, whose shares have more than tripled since its IPO at $31.
Justin Sun has maintained close ties with the Trump family, including attending a presidential dinner for major holders of the TRUMP memecoin. He also reportedly holds $75 million in tokens from World Liberty Financial, a decentralized finance (DeFi) entity linked to the Trump family.
The Financial Times also noted that after Trump took office, the U.S. Securities and Exchange Commission (SEC) paused a civil fraud case against Sun. Speaking after the recent presidential dinner, Sun voiced strong support for Trump’s crypto-friendly stance.
“All the haters need to really pay attention,” Sun said. “There are positive things happening in the industry,” calling Trump’s embrace of digital assets one of his best decisions.
