Tron is set to go public in the US through a merger with SRM Entertainment, with Eric Trump expected to join the new venture.
Tron Goes Public in the US
According to Financial Times, Tron founded by Justin Sun will go public in the US via a reverse merger with SRM Entertainment, which is listed on NASDAQ. SRM Entertainment specializes in designing and selling licensed children's products.
New Company Tron Inc.
The new venture will be named Tron Inc. and will buy and hold the TRON token, taking a similar approach to Strategy₿. A source mentioned that Eric Trump, son of Donald Trump, is expected to be part of the team. Tron plans to inject up to $210 million worth of digital assets into the new company.
Market Reaction to TRX News
Following the merger announcement, the price of TRX surged by 3.33%, reaching $0.287. The cryptocurrency's market cap exceeded $27 million before stabilizing at current levels.
Tron's steps towards a public offering and merger with SRM Entertainment create a positive outlook for the market, with Eric Trump's involvement potentially attracting additional interest.
