Tron to go public through reverse merger with SRM Entertainment
Tron will go public via a reverse merger with SRM Entertainment, according to sources familiar with the matter. The move is led by Dominari Securities, a US-based boutique investment bank that has connections with Donald Trump Jr. and Eric Trump.
The venture aims to buy and hold the Tron token, much like Strategy’s approach, turning into a Bitcoin vehicle. Eric Trump is expected to play a role in the new company, Tron Inc., but he mentioned on X that he has no public involvement.
Tron’s Token Investment into New Company
Tron will invest USD 210 million of token assets into the new company. This marks the latest move in the crypto tie-ups surge supported by Donald Trump’s backing of the digital asset industry.
In 2023, Tron and two other companies owned by its founder were charged by the SEC for allegedly manipulating the market and selling unregistered securities. The lawsuit was paused following Donald Trump’s intent to create lighter regulations for the crypto market.
Strengthening Connection with the Trump Family
Tron’s founder has since sought to bolster his ties with the Trump family. For instance, he and 24 major holders of the $Trump memecoin attended a gathering with President Trump at the Trump National Golf Club in Virginia. The billionaire also invested USD 75 million into the Trump family crypto company, World Liberty Financial, from which Donald Trump earned an income of USD 57 million. Recently, this company issued its first stablecoins on the Tron blockchain.
Financial Ties and Support
Dominari Securities, which arranged SRM Entertainment for Tron, is headquartered in Trump Tower, two floors below the Trump Organization’s offices. Shares in parent company Dominari Holdings increased by 580% in the six weeks before its filing, revealing that Donald Trump Jr. and Eric Trump joined its advisory board.
Additionally, American Bitcoin, a US-based crypto miner backed by the brothers, was originally a wholly owned subsidiary of Dominari Holdings. Dominari Securities has also raised millions of dollars for several of Elon Musk’s private companies, including SpaceX and xAI.
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