Justin Sun, once under scrutiny from federal authorities regarding his cryptocurrency ventures, is now on the path to publicly listing his company in the U.S. markets, reportedly with help from Eric Trump.
Tron, Sun’s digital asset platform, announced a plan on Monday to go public through a reverse merger with SRM Entertainment. This Nasdaq-listed firm, known for creating merchandise for theme parks, has shifted its focus to cryptocurrency. Concurrently, Trump’s sons unveiled the launch of Trump Mobile, which will market a $499 gold Android phone.
Information on SRM’s website indicates that the company has collaborated with notable venues, including Walt Disney World, SeaWorld, and Sesame Place. SRM has secured $100 million from a private investor to acquire Tron’s TRX tokens and intends to issue shares and warrants that would elevate the total valuation of the deal to $210 million.
The arrangement was facilitated by Dominari Securities, a boutique investment bank based in New York, which operates out of Trump Tower. The board of Dominari includes Donald Trump Jr. and Eric Trump. Following Donald Trump’s election victory, Sun became an advisor and investor in World Liberty Financial, the Trump family’s crypto enterprise, and he purchased $75 million worth of the memecoin $TRUMP when it debuted in January.
By late February, the SEC had officially halted its investigation into Sun’s operations. Throughout this period, Sun continued to invest in Trump-associated entities across various sectors, clinching a private dinner with the president in May after purchasing $16 million of $TRUMP in a special contest.
An anonymous source reported by the Financial Times indicates that Eric Trump, who manages the Trump Organization’s private investments, may take on a role within the newly renamed company, Tron, Inc.
