Tron, Inc. is preparing to list in America and buy a large quantity of TRX.

A company associated with the Tron blockchain and founder Justin Sun is planning to go public in America, according to Financial Times reports on Monday.

This company intends to carry out a listing through a reverse merger with SRM Entertainment – a company that is already listed on Nasdaq. The deal is arranged by Dominari Securities, an investment bank based in New York and linked to Donald Trump Jr. and Eric Trump.

The new entity named Tron, Inc. will implement a model for storing and holding TRX – the native token of the Tron network – similar to the strategy pioneered by MicroStrategy and co-founder Michael Saylor. Sources also reveal that Eric Trump may join the board of directors of this new company.

According to the FT, the company is expected to start with an allocation of $210 million in TRX from the Tron ecosystem. However, it is not clear exactly where this amount of tokens came from. The Tron blockchain does not have a single commercial entity behind it, but is currently governed by a decentralized autonomous organization (DAO). Previously, the network was overseen by the non-profit Tron Foundation, but was restructured into the Tron DAO after Justin Sun resigned in 2021.

Sun currently owns or has close ties with many companies in the cryptocurrency field, including Rainberry, formerly known as BitTorrent, Inc., Poloniex, and HTX. He is also involved in decentralized applications such as JustLend and SunSwap.

SRM Entertainment stock surged 275% in Friday morning trading after the news was released, according to data from TradingView. Meanwhile, the price of TRX increased by about 3% to 0.28 USD according to the coin price list.

Justin Sun tightens ties with the Trump family

In 2023, the U.S. Securities and Exchange Commission (SEC) charged Justin Sun and three related companies with selling unregistered securities and market manipulation. After the new Trump administration signaled support for loosening regulations on the cryptocurrency market, both parties agreed to pause the lawsuit in February this year to discuss a settlement.

Since then, Sun has sought to strengthen his relationship with the Trump family. Last May, he attended a dinner with President Donald Trump at the Trump National Golf Club in Virginia along with 24 individuals who hold the most TRUMP tokens. He has also invested 75 million USD in World Liberty Financial – a DeFi project backed by the Trump family.

Previously, FT reported that the shares of Dominari Holdings – a securities and financial technology group – increased by 580% in the six weeks leading up to the filing on February 11, revealing that Donald Trump Jr. and Eric Trump joined the company's advisory board. An American Bitcoin mining company named American Bitcoin, which was a wholly-owned subsidiary of Dominari Holdings, is also associated with these two figures.

Thạch Sanh