From Yahoo Finance: 2025-06-16 08:59:00

Blockchain company Tron, founded by Justin Sun, plans to go public in the U.S. via a reverse merger with Nasdaq-listed SRM Entertainment. The new firm will hold Tron’s tokens worth $210 million. TRX jumped 4% to 28 cents, while SRM Entertainment shares rose 250% to $5.1 in pre-market trading.

A number of crypto firms have recently gone public in the U.S., including Circle, whose shares have tripled since its IPO. Eric Trump was rumored to have a role in the new firm, Tron Inc., but he denied any public involvement. Sun, a close affiliate of the Trump family, owns $75 million worth of tokens from World Liberty Financial.

Sun, who attended a Presidential dinner for TRUMP memecoin holders, supports Trump’s pro-crypto agenda. The U.S. SEC paused a civil fraud case against Sun after Trump took office. Sun described Trump’s support for crypto as one of the President’s best decisions, urging critics to pay attention to positive developments in the industry.

Tron did not immediately respond to CoinDesk’s request for comment. Updates on June 16 provided additional background on Tron, Justin Sun, and a statement from Eric Trump.



Read more at Yahoo Finance: Tron Looks to Go Public in the U.S., Form Strategy-Like TRX Holding Firm: FT