Eric Trump Denies Involvement in Tron Blockchain Public Offering

Eric Trump, son of former US President Donald Trump, has denied any involvement in the upcoming public offering of the Tron blockchain in the United States. Despite expressing admiration for Tron founder Justin Sun, Trump dismissed reports suggesting his participation in the venture. Tron's plans to go public involve a reverse merger with Nasdaq-listed SRM Entertainment, which will be renamed Tron Inc. The deal also includes a $100 million private equity investment to establish a large TRX treasury. Tron currently ranks as the ninth-largest blockchain network globally, with a market cap of $26.16 billion.

Eric Trump and Justin Sun have a documented business history. In November, Sun became the largest investor in World Liberty Financial (WLFI) by acquiring $30 million worth of WLFI tokens. Eric Trump played a pivotal role in shaping WLFI, a crypto platform closely associated with his family. The Trump family’s involvement in the crypto sector deepened earlier this year with the launch of American Bitcoin, a mining company preparing for a public debut via merger with Dryphon Digital Mining. Since April, the company accumulated 215 BTC, worth approximately $23.3 million. Eric Trump believes Bitcoin is a critical global asset, and called its accumulation an international “arms race” due to interest from sovereign wealth funds, ultra-wealthy families, and major corporations.

Despite the financial success, the Trump family’s growing involvement in cryptocurrency attracted a lot of scrutiny from members of Congress, who raised questions about the overlap between political influence and business interests. US President Donald Trump himself recently disclosed earning $57.4 million from his involvement with World Liberty Financial. The income was revealed in his 2025 financial disclosure, which was filed with the US Office of Government Ethics on June 13. According to the filing, Trump holds 15.75 billion governance tokens in World Liberty Financial, which also grant him voting rights. The reported gain is listed as “$57,437,927” and attributed to token sales.

World Liberty Financial launched in September of 2024 with a focus on decentralized finance and stablecoins, and it raised approximately $550 million through two token sales. The first round brought in $200 million, and a second round in early 2025 raised an additional $250 million. The project positions itself as a challenger to traditional finance and attracted a lot of backing from the crypto industry. In addition to Justin Sun, Web3Port contributed $10 million in January, while Oddiyana Ventures joined as a strategic investor, although the size of its investment was not disclosed.

Trump’s digital asset involvement extends beyond World Liberty Financial. While his latest filing does not show new revenue from previous ventures like Trump Digital Trading Cards, it does reflect the still ongoing connections to entities like CIC Digital and CIC Ventures. These companies are tied to his past Web3 and NFT efforts, though they appear to be inactive or generating minimal income at present. The President’s certification on the ethics filing confirms that the information provided is accurate to the best of his knowledge and is now subject to review by the Office of Government Ethics.

The Trump-crypto ties deepened after US President Donald Trump’s social media platform, Truth Social, recently filed an S-1 registration with the Securities and Exchange Commission (SEC) to launch a dual exchange-traded fund (ETF) focused on Bitcoin and Ethereum. The proposed fund is named the Truth Social Bitcoin and Ethereum ETF, and will be sponsored by asset manager Yorkville America Digital. A crypto ETF is a fund that allows investors to gain exposure to cryptocurrencies like Bitcoin or Ethereum without directly owning them. It tracks crypto prices and is traded on traditional stock exchanges, which simplifies access and reduces custody risks.

The main goal of Truth Social’s fund is to simplify crypto investment by offering shares backed by BTC and ETH. According to the filing, the digital assets will be held by Crypto.com’s trust arm, Foris DAX Trust Company, serving as the crypto custodian for the ETF. The ETF is intended to be listed on the New York Stock Exchange Arca, though the fund’s ticker and cash custodian details have not been disclosed yet. Truth Social explained that further details, including its prime execution agreement with Crypto.com, will be included in a later amendment to the filing. This ETF filing was made shortly after the SEC approved Trump Media and Technology Group’s $2.3 billion Bitcoin treasury registration, which followed the company’s $2.5 billion capital raise in May to acquire Bitcoin, despite initially denying such plans. The firm stated that it has no immediate plans to issue securities under the approved deal.