I just read about Justin Sun taking Tron public in the US and I know everyone is saying “crypto goes mainstream” but let’s not pretend this is your typical IPO or anything close.
It’s not even an IPO.
They’re using something called a reverse merger which if you don’t know, is when a private company basically buys out a public one just to get listed. Tron is joining up with a company called SRM Entertainment. I’ve never even heard of them till today and I know most readers probably haven’t either. They’re public on Nasdaq so that’s the shortcut.
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They say Tron is going to put like $210 million worth of its tokens into this new company. The plan is to hold the tokens and use the company as a wrapper, sort of like what MicroStrategy does for Bitcoin but not really the same thing because Bitcoin has a different reputation compared to Tron. That’s just something to keep in mind.
Eric Trump, the son of President Trump is going to be one of the top execs for Tron Inc.
If you didn’t know, Justin Sun has been spending time with the Trump family lately. Last month he went for dinner with Trump and the other big $TRUMP coin holders. It wasn’t just a photo-op, he put $75 million into one of their other crypto firms. That one has already made Trump over $50 million, so the whole idea that this is just a random business move, nopre, the connections are obvious if you care to look.
Another thing you should consider is the SEC’s case against Sun and Tron for fraud. Four months ago, they just decided to hit pause, that means the charges are still there. If you’ve never followed a crypto investigation, it just means they’re not pushing it right now, but they can pick it back up any time. That’s important to understand because it can play a role in the future of this new deal.
Back to the deal.
The whole thing was arranged by Dominari Securities, which if you check their address, is in Trump Tower, right under the Trump Organization offices.
It’s too close to be a coincidence.
Dominari’s parent company got Donald Trump Jr. and Eric Trump on their advisory board and the shares went up like 580% in six weeks. Tell me that’s not people betting on the name. I already said Sun is using his network but this is what that looks like in the US, not just in crypto Twitter.
If you’re looking at this and thinking Tron is finally getting legitimacy, that’s one way to see it. But from my end it looks like Sun just knows how to get doors open when it matters. SEC takes a break, suddenly he’s got a shortcut to Wall Street and Trump family backing.
A classic way of how business works in America, it’s who you know. You have enough money and connections, and the rules bend for you. Nothing new just more obvious now with crypto getting involved.