The Tron Blockchain is said to be planning a back door access to the American public markets through an inverted merger with SRM Entertainment, a Nasdaq-listed company, The Financial Times reported on June 16.
If completed, the merger would create a new company, Tron Inc., with large quantities of TRX, Tron’s native token. The report also suggested that Eric Trump, son of US President Donald Trump, can join a leadership capacity.
According to the report, Dominari Securities, a boutique investment firm based in New York, arranges the transaction.
Tron is one of the largest block chains in the crypto industry, founded by Justin Sun. The network is generally assumed because of the large Stabilecoin market and is known for its cheap and fast transactions.
Tron Treasury Management
In a related step, SRM Entertainment announced A share investment of $ 100 million through a purchase agreement for securities with a private investor.
The investment will finance a new TRX Treasury strategy, supported by warrants that can increase the total value of the deal to $ 210 million.
Justin Sun has also been appointed as adviser to SRM Entertainment. Dominari Securities serves as an exclusive placement agent for the offer.
SRM plans to use the funds to acquire and use TRX tokens, and positions itself for long-term returns in the digital asset space. After the successful rollout of the deferment program, the company is said to also intend to introduce a dividend policy.
Sun said:
“Stablecoins and Blockchain are a revolution in global payments, which makes faster, cheaper and more transparent transactions possible. With more than 310 million international user accounts and average daily transactions, YTD of more than $ 20 billion strives to be the protocol to be the massopulations of the massopulations that the mass arrangement that arranging the mass arrangement that the scheme scheme that arranging the scheme scheme that the scheme scheme scheme that arranging the scheme scheme that the scheme scheme scheme that arranging the mass arrangement that arranging the scheme scheme that the scheme scheme scheme that the scheme scheme that arranging the mass arrangement that is the arrangement that is the arrangement scheme that is the arrangement that the mass scheme scheme scheme” “” “” “
TRX rises
After the news, Tron’s native token TRX rose by almost 7%and traded at $ 0.2841 at the time of the press.
In the meantime, these developments point to a dramatic shift for Tron and the founder, Justin Sun, who has previously had to deal with the supervision of American supervisors, including investigations by the Securities and Exchange Commission.
Sun, however, recently tailored to each other to pro-Crypto initiatives associated with President Trump, including the launch of the Trump Memecoin and the USD1 Stablecoin under the World Liberty Financial Brand.