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Last year, Justin Sun found himself under a federal investigation concerning his cryptocurrency empire, which resulted in him avoiding entry into the United States. Now, his enterprise is on the verge of being publicly traded on the American stock exchanges, reportedly with the aid of Eric Trump.
Tron, Sun’s digital asset platform, revealed on Monday that it intends to become publicly listed in the U.S. through a reverse merger with SRM Entertainment. SRM, a Nasdaq-listed firm, initially created merchandise for theme parks before refocusing on the cryptocurrency sector. Concurrently, Trump’s sons announced their venture into the telecom market with Trump Mobile, an MVNO, which will also offer a $499 gold Android phone.
According to SRM’s website, the company has collaborated with entities like Walt Disney World, SeaWorld, and Sesame Place. SRM claims to have secured $100 million from a private investor to acquire Tron tokens (TRX) with the intention of issuing shares and warrants that could value the transaction at up to $210 million.
The deal was brokered by Dominari Securities, a New York-based boutique investment bank operating out of Trump Tower, whose board includes both Donald Trump Jr. and Eric Trump, the president’s sons. Shortly after Trump’s election, Sun became an advisor and investor in World Liberty Financial, the Trump family’s crypto company, and promptly bought $75 million of their memecoin, $TRUMP, when the token launched in January.
By the end of February, the SEC had officially paused its investigation into Sun’s businesses. Sun continued to invest in Trumpworld entities, both in crypto and elsewhere: in May, he won a private dinner with the president by buying $16 million worth of $TRUMP in a contest.
