Tron Prepares US Public Listing Via $210M Reverse Merger

A firm associated with Justin Sun, the founder of the Tron blockchain, is preparing to go public in the United States through a reverse merger with SRM Entertainment, a company listed on the Nasdaq exchange. This strategic move involves the establishment of Tron Inc., which will debut with a corporate treasury valued at approximately $210 million in TRX, the native cryptocurrency of the Tron network. The merger is being facilitated by Dominari Securities, a New York-based boutique investment bank with ties to Donald Trump Jr. and Eric Trump.

Once the merger is completed, SRM Entertainment will be renamed Tron Inc. The new venture will adopt a corporate crypto acquisition model similar to that of Strategy, with Justin Sun serving as an advisor. Eric Trump is also expected to join the leadership team. The firm plans to implement a dividend policy once a TRX staking program is successfully established.

SRM CEO Rich Miller acknowledged the growing global adoption of blockchain technology and highlighted Tron's leadership in cross-border settlement using USD-pegged stablecoins. Miller described Tron as the "future of the world’s next generation financial infrastructure," citing its extensive user base of over 310 million international accounts and average daily transactions exceeding $20 billion year-to-date. Tron aims to become the protocol of choice for onchain settlement, serving mass populations worldwide.

This deal further underscores the alleged close relations between Sun and the Trump family. Sun recently confirmed ownership of the wallet with the largest amount of Donald Trump’s TRUMP memecoin, which sparked both celebration and scrutiny. Sun had previously secured an invite to an exclusive dinner with the US president and was awarded the “Trump Golden Torbillon.” Additionally, Sun invested $75 million in the Trump family-backed DeFi project, World Liberty Financial (WLFI).

The reverse merger allows Tron to bypass the traditional initial public offering (IPO) process, enabling a quicker and more efficient transition to a publicly traded company. This move provides investors with an opportunity to gain exposure to the growing cryptocurrency market. The deal is expected to be completed in the coming months, subject to regulatory approval and other customary closing conditions.

The merger is a significant development for the cryptocurrency industry, representing one of the largest reverse mergers involving a digital currency to date. It highlights the growing interest in cryptocurrencies among traditional investors seeking exposure to this emerging asset class. The deal is expected to provide a boost to the TRX cryptocurrency, which has seen value fluctuations amid broader market volatility.

Dominari Securities, with its extensive experience in mergers and acquisitions, is well-positioned to support Tron in its transition to a publicly traded company. The merger is anticipated to provide a significant boost to the Tron network, which has been growing rapidly and is now one of the largest blockchain platforms in the world.