Tron, Led by Justin Sun, Reportedly Set to Go Public in the U.S. Through a Reverse Merger with Assistance from the Trump Family?

Tron Plans to Go Public on NASDAQ through Reverse Merger

According to a report by the Financial Times, the blockchain network Tron, founded by Sun Yuchen, is expected to go public on the NASDAQ in the United States through a method known as “reverse merger,” marking the platform’s official entry into the U.S. capital market.

Sources revealed that Tron will merge with the publicly listed company SRM Entertainment, with the transaction being managed by Dominari Securities, an investment bank closely related to the Trump family. Following the news release, SRM Entertainment’s stock price surged over 300%.

According to reports, this transaction will facilitate the establishment of a new company named Tron Inc., which plans to hold and maintain a long-term position in Tron’s native token (TRX). This concept is similar to the operational strategy of Strategy (MicroStrategy), which transformed itself into a Bitcoin reserve vehicle. One insider further disclosed that Eric Trump, the second son of Donald Trump, is expected to hold a position at Tron Inc.

In this transaction, Tron is expected to inject up to $210 million in token assets, indicating that Sun Yuchen is actively leveraging his connections with American political and business figures to expand his influence in the cryptocurrency market. This move is also seen as the latest development in paving the way for the cryptocurrency industry since Donald Trump’s administration.

Deep Ties with the Trump Family

Sun Yuchen has had numerous interactions with the Trump family in recent years. In May of this year, he attended a dinner at Trump National Golf Club with 24 other major holders of the TRUMP meme coin. Additionally, Sun Yuchen invested $75 million to fund the Trump family’s cryptocurrency company, World Liberty Financial, which generated $57.35 million in income for Trump last year and issued its USD stablecoin on the Tron blockchain last week.

It is worth noting that Tron was still on the litigation list filed by the U.S. Securities and Exchange Commission (SEC) last year, accused of unregistered securities sales and market manipulation. However, after the Trump administration advocated for “regulatory relief,” the SEC and Sun Yuchen jointly filed a motion to “stay the litigation” this February.

Key Players and Influential Forces

Dominari Securities, which is leading this reverse merger, is not an ordinary player. The firm is headquartered in Trump Tower, just two floors away from the Trump Organization. In addition, Dominari Securities has previously raised funds for Elon Musk’s companies, including SpaceX and xAI, and partnered with Bitcoin miner Hut 8 to establish the strategic Bitcoin reserve company American Bitcoin.

This move indicates that, with the onset of Trump’s second term, the cryptocurrency industry and political capital are forming deeper interconnections. Should Tron successfully go public, it would become another representative case in this wave of “political-business linkages.”