The digital asset platform Tron, led by Justin Sun, announced its plans to go public in the US. However, the deal with Dominari Securities has ignited controversy over connections with the Trump family.
Tron's Plans for Going Public
On October 15, Tron announced plans to become a publicly traded company in the US through a reverse merger with SRM Entertainment. This company, which previously focused on merchandise design for theme parks, is now transitioning into the crypto space. Dominari Securities, based in Trump Tower, acted as the broker for this deal.
Dominari Securities' Controversial Trump Family Connections
Reports indicate that Donald Trump Jr. and Eric Trump joined Dominari Holdings' advisory board, receiving 750,000 shares each. These connections with Dominari have raised questions about the transparency and ethics of the dealings. Eric Trump has denied any 'public involvement' in Sun's new venture.
Justin Sun's Relationship with Trump and Cryptocurrencies
Justin Sun has had ties to Trump and his cryptocurrency ventures. He was an advisor and investor in World Liberty Financial, a crypto company associated with Trump, and purchased $75 million worth of the memecoin $TRUMP. Sun also claimed to be the largest holder of Trump’s memecoin, recently announcing the minting of a stablecoin, USD1, linked to the project.
Tron's plans for a public offering have sparked heated discussions in the crypto community. The connections with the Trump family and Justin Sun's controversial reputation add tension to the already contentious history of this platform.
