The blockchain platform Tron, founded by Justin Sun, is preparing to become a public company through a reverse merger with SRM entertainment, listed on Nasdaq.
Plans for Public Markets and Reverse Merger
Reports indicate that Tron aims to conduct a reverse merger with SRM entertainment, marking its entry into the U.S. markets. The new entity will reportedly be named Tron Inc. and will operate as a public holding company. As part of this merger, Tron will transfer $210 million in its native token TRX into the new organization, modeled after MicroStrategy's Bitcoin-centric corporate structure.
Regulatory Issues and the Future of Tron
This merger comes amidst a fraud case initiated by the U.S. Securities and Exchange Commission (SEC) in 2023, which is currently at a standstill. Tron and its companies face accusations of selling unregistered securities and market manipulation. In early 2025, the case was paused for negotiations, coinciding with a shift in President Trump's cryptocurrency policy.
Justin Sun's Connections with the Trump Family
Justin Sun, the founder of Tron, has established close ties with the Trump family, including attending a secret dinner with President Trump and investing $75 million in a Trump-associated crypto business, World Liberty Financial. These financial ties are documented in public filings. Furthermore, Eric Trump is expected to take an executive role in the newly configured company.
Tron Inc. is likely to continue its regulatory efforts and may explore funding opportunities as part of its integration with the U.S. financial system.
