Tron, a digital asset platform, is planning to go public via a reverse merger with SRM Entertainment in the United States. This move comes four months after the Securities and Exchange Commission (SEC) agreed to pause an investigation into several of its former CEO’s companies.
Details of the Reverse Merger
The venture aims for Tron to acquire and hold its token, much like Strategy’s approach. Dominari Securities, a US-based boutique investment bank with connections to Donald Trump Jr. and Eric Trump, is leading this transaction.
Involvement of the Trump Brothers
Eric Trump is expected to play a role in the new company, Tron Inc., according to sources, although he stated on X that he has no public involvement in the initiative. Tron plans to invest USD 210 million worth of token assets into this new entity.
Prior SEC Charges and Regulatory Developments
In 2023, alongside two other companies owned by its founder, Tron was charged by the SEC for allegedly manipulating the market and selling unregistered securities. The lawsuit was paused to explore potential resolutions after Donald Trump expressed his intention to lighten crypto regulations.
The SEC probe has since been paused, offering Tron a chance to restructure through this merger with SRM Entertainment. This development marks the latest move in the surging trend of crypto tie-ups driven by support from Donald Trump for the digital asset industry.
Strengthening Ties with the Trump Family
The founder of Tron has been actively seeking closer ties with the Trump family. For instance, he and 24 other major holders of the $Trump memecoin attended a gathering with President Donald Trump at the Trump National Golf Club in Virginia. The billionaire also invested USD 75 million into the Trump family’s crypto company, World Liberty Financial.
World Liberty Financial recently issued its first stablecoins on the Tron blockchain, further deepening their connection.
Business Connections and Support
Dominari Securities, the investment bank facilitating this deal with SRM Entertainment, is headquartered in Trump Tower, just two floors below the offices of The Trump Organization. According to reports, shares in Dominari Holdings saw a 580% increase in the six weeks before its filing, revealing that Donald Trump Jr. and Eric Trump joined as advisory board members.
American Bitcoin, a US-based crypto miner backed by the brothers, was once a wholly owned subsidiary of Dominari Holdings. Dominari Securities has also supported several of Elon Musk’s private companies, including SpaceX and xAI, in raising significant funding.
