Reverse Merger Announced: Tron will go public in the U.S. through a reverse merger with SRM Entertainment, rebranding as Tron Inc.
Financial Details: The deal includes a $100M equity investment, potentially rising to $210M with warrants, to buy TRX tokens for a crypto treasury.
Market Impact: TRX surged 2–10% to $0.287–$0.29, with SRM’s stock soaring 533.79% on June 16, 2025.
Key Players: Justin Sun will advise Tron Inc., with Dominari Securities, linked to the Trump family, orchestrating the deal.
Regulatory Context: The SEC’s paused fraud probe into Sun enables the listing, signaling a shift in crypto regulation.
In a landmark move for the cryptocurrency industry, Tron, the blockchain platform behind the TRX token, is set to go public in the United States through a reverse merger with Nasdaq-listed SRM Entertainment. The deal, announced on June 16, 2025, positions Tron to become a publicly traded entity, Tron Inc., with a bold strategy to hold TRX tokens as a corporate treasury asset, mirroring MicroStrategy’s Bitcoin model. The announcement sent shockwaves through the crypto market, with TRX prices climbing and SRM’s stock skyrocketing.
The Deal’s Structure: The reverse merger, facilitated by Dominari Securities, involves a $100 million equity investment into SRM Entertainment, with the potential to reach $210 million through warrants. These funds will be used to purchase TRX tokens, creating a crypto-focused treasury for Tron Inc. SRM, previously a toy and souvenir company, will rebrand as Tron Inc. and shift its business to leverage Tron’s blockchain ecosystem. “This transaction represents a significant milestone for Tron and the broader blockchain industry,” said a spokesperson for Tron, as reported by Reuters.
Justin Sun’s Role: Tron’s founder, Justin Sun, will serve as an adviser to Tron Inc., bringing his vision to the public markets. Sun’s involvement comes as the U.S. Securities and Exchange Commission (SEC) has paused its 2023 fraud investigation into him, a development that has cleared the path for this high-profile listing, according to the Financial Times. The pause in the probe signals a potential thaw in regulatory tensions, boosting confidence in Tron’s U.S. ambitions.
Market Reaction: The news triggered significant market activity. TRX surged by 2–10% on June 16, reaching prices between $0.287 and $0.29, with trading volumes spiking. SRM Entertainment’s stock experienced an even more dramatic rise, soaring 533.79% in a single day, reflecting investor enthusiasm for the crypto pivot. The deal’s resemblance to MicroStrategy’s Bitcoin accumulation strategy has drawn comparisons, with analysts suggesting Tron Inc. could set a precedent for crypto-backed public companies.
Political Connections: The involvement of Dominari Securities, a firm with ties to the Trump family, has sparked speculation about political influence. Early reports suggested Eric Trump might take a leadership role, but he clarified on June 16, 2025, via X, stating, “I am not taking a public role in Tron Inc., but I support Justin Sun and Tron’s vision for blockchain innovation.” Despite the denial, the Trump connection has fueled buzz, especially as Dominari’s parent company recently launched World Liberty Financial, a stablecoin project on the Tron network.
.@tier10k I’m the biggest fan of Tron and love @justinsuntron – he is a great friend and an icon in the crypto space. That said the below is inaccurate – I don’t have public involvement. https://t.co/CDt0uudY1s
— Eric Trump (@EricTrump) June 16, 2025
Broader Implications: The merger positions Tron to bridge the gap between decentralized finance (DeFi) and traditional markets, leveraging its blockchain’s high transaction throughput and low fees. With TRX as a treasury asset, Tron Inc. could attract institutional investors seeking crypto exposure through regulated markets. “This could be a game-changer for how blockchain projects integrate with public markets,” said crypto analyst Sarah Tran. However, risks remain, including regulatory scrutiny and TRX’s volatility, which could impact Tron Inc.’s valuation.
Looking Ahead: As Tron prepares for its Nasdaq debut, the crypto community is watching closely. The deal’s success could pave the way for other blockchain projects to pursue public listings, while its MicroStrategy-like strategy may inspire companies to hold digital assets like Ethereum or TRX as balance sheet reserves. For now, investors are riding the wave of optimism, but caution is advised given the crypto market’s inherent risks.
For more details, follow updates from SRM Entertainment’s filings or Tron’s official channels. The merger marks a pivotal moment for Tron and the crypto industry, blending innovation with mainstream finance in a high-stakes bet on blockchain’s future.
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