Tron’s Justin Sun plans to public in US with Eric Trump through $210M SRM reverse merger deal

The Tron blockchain is reportedly readying a backdoor introduction to the US nationalist markets done a reverse merger with SRM Entertainment, a Nasdaq-listed company, the Financial Times reported connected June 16.

If completed, the merger would make a caller company, Tron Inc., holding ample amounts of TRX, Tron’s autochthonal token. The study besides suggested that Eric Trump, lad of the US president Donald Trump, whitethorn articulation Tron Inc. successful a enactment capacity.

According to the report, Dominari Securities, a boutique concern steadfast based successful New York, is arranging the transaction.

TRON is 1 of the largest blockchains successful the crypto industry, founded by Justin Sun. The web is wide adopted for its ample stablecoin marketplace and is renowned for its inexpensive and accelerated transactions.

Tron Treasury management

In a related move, SRM Entertainment announced a $100 cardinal equity concern done a Securities Purchase Agreement with a backstage investor.

The concern volition money a caller TRX Treasury Strategy, backed by warrants that could rise the deal’s full worth to $210 million.

Justin Sun has besides been appointed arsenic an advisor to SRM Entertainment. Dominari Securities is serving arsenic the exclusive placement cause for the offering.

SRM plans to usage the funds to get and involvement TRX tokens, positioning itself for semipermanent returns successful the integer plus space. Following the palmy rollout of its staking program, the institution reportedly besides intends to present a dividend policy.

Sun said:

“Stablecoins and blockchain are revolutionizing planetary payments, enabling faster, cheaper, and much transparent transactions. With implicit 310 cardinal planetary idiosyncratic accounts and mean regular transactions YTD exceeding $20 billion, TRON strives to beryllium the protocol of prime for onchain colony serving the wide populations worldwide.”

TRX rises

Following the news, Tron’s autochthonal token TRX surged astir 7%, trading astatine $0.2841 astatine property time.

Meanwhile, these developments awesome a melodramatic displacement for Tron and its founder, Justin Sun, who has antecedently faced scrutiny from US regulators, including investigations by the Securities and Exchange Commission.

However, Sun has precocious aligned himself with pro-crypto initiatives associated with President Trump, including the motorboat of the TRUMP memecoin and the USD1 stablecoin nether the World Liberty Financial brand.

The station Tron’s Justin Sun plans to nationalist successful US with Eric Trump done $210M SRM reverse merger deal appeared archetypal connected CryptoSlate.