Catenaa, Friday, June 20, 2025- Tron, the blockchain platform founded by Justin Sun, has struck a deal to go public by merging with Nasdaq-listed SRM Entertainment, which will be renamed Tron Inc., the companies announced Monday.
The deal includes a $100 million equity investment from an undisclosed private investor, which will be used to purchase Tron cryptocurrency tokens. If all warrants are exercised, the transaction values the combined entity at $210 million.
Tron founder Justin Sun is set to join the company as an adviser.
SRM Entertainment, known for designing and selling toys and custom merchandise, saw its shares surge more than 300% Monday, closing at $6.70, up from $1.45 on Friday.
The reverse merger is organized by Dominari Securities, a New York boutique investment bank whose board includes Don Jr. and Eric Trump, sons of U.S. President Donald Trump. Both joined Dominari Holdings, which owns Dominari Securities, earlier this year.
Sun, a Chinese-born billionaire who founded the Tron blockchain network, has been sued by the U.S. Securities and Exchange Commission (SEC) in 2023 on allegations of fraud.
The SEC lawsuit is currently on hold. Sun has close ties to Trump’s World Liberty Financial crypto venture, where he increased his investment to $75 million this year.
Sun’s association with the Trump family and his crypto ventures have sparked concerns over potential conflicts of interest, although the president has stated he placed his business interests in a trust managed by his children.
