Reverse merger: Tron targets SRM Entertainment for listing operations.
According to reports from the Financial Times, Tron is preparing to go public through a reverse merger with the NASDAQ-listed company SRM Entertainment, thus indirectly achieving a public listing in the U.S. The deal is led by Dominari Securities, an investment firm closely connected to the Trump family. This will allow Tron to enter the U.S. capital market in a lower-threshold manner, avoiding the cumbersome processes and regulatory scrutiny of a traditional IPO.
Tron Inc.'s new company model: buy coins, do not sell coins, only hold.
Similar to the Bitcoin holding strategy focused by MicroStrategy led by Michael Saylor, the newly established Tron Inc. will also specialize in purchasing and holding TRX tokens for the long term. Reports indicate that Tron will inject $210 million worth of TRX assets as startup capital. This kind of holding model can be seen as a concrete manifestation of bullish belief in crypto assets, while providing investors with a financial instrument to indirectly participate in TRX price fluctuations.
The Trump family is deeply involved, with Eric Trump taking on a role in the new company.
Eric Trump, the son of U.S. President Trump, will also participate in the operational role of Tron Inc. Justin Sun's close relationship with the Trump family has been evident, as he not only attended a presidential dinner for TRUMP meme coin holders but also holds as much as $75 million in World Liberty Financial tokens, which are also deeply connected to the Trump family.
SEC case put on hold, Justin Sun publicly supports Trump.
After Trump regained power, the U.S. Securities and Exchange Commission (SEC) originally paused the civil fraud case against Justin Sun. Recently, Sun expressed clear support for Trump's pro-cryptocurrency policies in an interview, even stating that it was "one of the president's most correct decisions." He emphasized, "All the naysayers should reassess, as many positive changes are happening in the crypto industry."
The market reacts enthusiastically: TRX and SRM stock prices rise together.
After the news broke, the market reacted quickly. The price of TRX rose nearly 4%, reaching $0.28; while the stock price of SRM Entertainment skyrocketed nearly 250% in pre-market trading, reaching $5.1.
Tron's actions are not the first of their kind. Stablecoin giant Circle recently completed its listing in the U.S., with its stock price soaring more than three times since the IPO price of $31 per share. As the political and financial environment for the crypto industry in the U.S. gradually warms up, more and more companies are actively expanding their capital market layout.
Source: (Chain News)
This article is authorized for reprint from: (Chain News)
Original title: (Tron plans to go public in the U.S., creating a holding company model similar to MicroStrategy's TRX holdings.)
Original author: Elponcho
'Is Sun's Tron going to become a stock? It's reported that Tron plans to go public via a shell company, and the new company will reserve TRX!' This article was first published in 'Crypto City'.
