Justin Sun-linked firm to go public in US with TRX acquisition strategy; Eric Trump expected to take role: FT

A firm linked to the Tron blockchain and its billionaire founder, Justin Sun, is planning to go public in the U.S., the Financial Times reported on Monday.The company plans to go public through a reverse merger with Nasdaq-listed SRM Entertainment in a deal arranged by Dominari Securities — a New York-based boutique investment bank linked to Donald Trump Jr. and Eric Trump, according to two people familiar with the matter, the outlet said. The new venture, Tron, Inc., plans to buy and hold the Tron blockchain's native cryptocurrency, TRX, adopting a similar corporate crypto acquisition model pioneered by Strategy and its co-founder, Michael Saylor. Eric Trump is also reportedly expected to join the leadership team of the newly formed company.The firm plans to start with a $210 million token injection from the Tron ecosystem, according to the FT, though it is unclear where those funds are being sourced from specifically. There is no single for-profit company behind the Tron blockchain, and its development is now attributed to a decentralized autonomous organization model. The Tron Foundation was a non-profit entity that initially oversaw the Tron blockchain protocol, subsequently reorganized as the Tron DAO after Sun resigned from the foundation in 2021. Sun owns or has close ties with various companies in the crypto ecosystem, such as Rainberry (formerly BitTorrent, Inc.), Poloniex, and HTX. He is also linked to decentralized apps JustLend and SunSwap.SRM Entertainment is up 275% in early Friday trading following the news, according to . TRX rose around 3% to $0.28, according to The Block's Tron price page.Sun's growing ties with the Trump familyIn 2023, the SEC charged Justin Sun and three of his companies with selling unregistered securities and market manipulation. After the new Trump administration signaled support for looser crypto rules, both sides moved in February to pause the case and explore a settlement.Sun has since sought closer ties with the Trump family. In May, he and the 24 other largest TRUMP memecoin holders attended a banquet with the former president at Trump National Golf Club in Virginia. He also invested $75 million in the Trump family-backed decentralized finance project, World Liberty Financial.The FT previously reported that shares in Dominari Holdings — a securities and fintech group — increased 580% in the six weeks before its February 11 filing revealed that Donald Trump Jr. and Eric Trump had joined its advisory board. American Bitcoin, a U.S. crypto mining firm backed by the pair, was originally a fully owned subsidiary of Dominari Holdings.The Block reached out to Justin Sun and the Tron DAO for comment.Updated with additional details throughout.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.