Tron Goes Public: Justin Sun and Eric Trump Launch $210M Reverse Merger Deal

Justin Sun, the founder of the Tron blockchain, is preparing to list his company on the U.S. stock market through a reverse merger deal valued at $210 million with SRM Entertainment, a Nasdaq-listed firm. The move comes months after the U.S. Securities and Exchange Commission agreed to temporarily halt its investigation into Sun. This transaction is being facilitated by Dominari Securities, an investment bank with ties to Eric Trump, who is expected to take a leadership or advisory role in the newly rebranded company, “Tron Inc.”

Instead of pursuing a traditional IPO, Tron will go public by merging with SRM, allowing it to bypass regulatory hurdles and expedite its entry into U.S. capital markets. As part of the agreement, the new entity will adopt a crypto-based treasury model, converting the investment into TRX—the native token of the Tron blockchain. The deal involves $100 million in equity and could reach a total value of $210 million through preferred shares and warrants, positioning Tron Inc. to become a significant holder and staker of TRX tokens.

The announcement sent shockwaves through the market, with SRM shares soaring by over 600% in a single day. Observers are drawing comparisons between this strategy and the one used by MicroStrategy, where digital assets are held as a core treasury reserve. Sun’s financial alignment with the Trump network deepens with this move—he has previously invested $75 million into Trump-affiliated ventures and attended politically-charged crypto events.

By leveraging political connections and a strategic financial structure, Sun is not only entering the U.S. public markets but also aligning Tron with powerful conservative influencers. The merger could redefine how crypto companies navigate traditional finance, blending digital assets, Wall Street tactics, and political capital.