From Yahoo Finance: 2025-06-16 08:49:00

Tron, Justin Sun’s crypto platform, has struck a deal with Nasdaq-listed company SRM Entertainment. SRM will buy tokens, rename to Tron Inc, and have Sun as an adviser. A $100 million investment will be used to purchase Tron’s cryptocurrency, with plans for Tron to go public in the U.S. through a reverse merger with SRM.

Details about the source of the $100 million funds were not disclosed by SRM or Tron representatives. It remains unclear how Tron will be managed in the future or if ownership will shift as a result of the deal. The deal was facilitated by boutique investment bank Dominari Securities, which has ties to Donald Trump’s sons.

Chinese-born Sun, founder of the Tron blockchain network, faced a lawsuit from the SEC in 2023. He has deep connections to Trump’s World Liberty Financial crypto venture and has increased his investment to $75 million. Sun’s Tron network has listed USD1, a stablecoin from World Liberty, leading to concerns about potential conflicts of interest.

A civil fraud lawsuit by the SEC against Sun has been paused. SRM, known for custom merchandise, saw its shares surge over 300% to $6.70 from $1.45. Dominari Securities, the bank behind the SRM-Tron deal, did not comment on the situation.



Read more at Yahoo Finance: Crypto platform Tron strikes deal with Nasdaq-listed company