Tron, the blockchain platform founded by crypto billionaire Justin Sun, is reportedly planning to enter U.S. public markets through a reverse merger with Nasdaq-listed SRM Entertainment, according to a recent report from the Financial Times. The entry will be coordinated by Dominari Securities.
Once finalized, the deal will establish a new entity known as Tron Inc., which will reportedly hold substantial amounts of TRX, Tron’s native digital asset.
The FT report indicates that Eric Trump, son of U.S. President Donald Trump, may assume a leadership position within the rebranded company.
Tron to Inject $210M in TRX as It Eyes Nasdaq Debut
The newly formed Tron Inc. is expected to onboard as much as $210 million worth of TRX tokens, with a structure that resembles MicroStrategy’s Bitcoin-centric treasury model, positioning it as a publicly traded vehicle to leverage its crypto reserves.
Dominari Securities operates under Dominari Holdings, which is affiliated with American Data Centers. This venture, focused on AI infrastructure, was co-founded by Eric Trump and Donald Trump Jr., both of whom sit on the advisory board.
This development follows closely on the heels of Circle Internet Financial’s landmark listing on the New York Stock Exchange, where it raised $1.05 billion in one of the largest crypto IPOs of the year.
Circle’s public debut has indicated renewed investor interest in blockchain firms, particularly amid improving regulatory clarity under the Trump administration and growing institutional support for crypto assets.
Justin Sun’s High-Stakes Bet: Going Public, Trump Ties, and $79B Stablecoin Empire
Justin Sun’s relationship with the Trump family appears to be deepening. In May, he attended a private banquet at Trump National Golf Club in Virginia alongside 24 other major holders of the $TRUMP meme token.
He has also invested $75 million in World Liberty Financial, a Trump-aligned crypto venture that recently launched the USD1 stablecoin on the Tron network.
Following the merger news, TRX token price climbed roughly 3%, trading around $0.2785, according to CoinGecko.
Tron currently manages more than $4.8 billion in total value locked (TVL) and has a stablecoin market cap of $79 billion, making it the second-largest player in the global stablecoin space.
TRON is processing $20 BILLION in stable coins DAILY, that's more volume than Visa!
Justin Sun: "Everyone who matters in crypto is already here" as Dubai dethrones Singapore as the crypto capital
From $5T to $7T projected volume in 2025. The revolution is happening on-chain…
— Kate Miller (@KateMillerGems) June 5, 2025
In addition, Tron’s daily active address count is nearing 3 million, marking its highest level since May 2023.
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