Tron to Go Public in $210 Million Reverse Merger, TRX Soars 10%
Tron, the blockchain platform founded by controversial crypto mogul Justin Sun, is set to go public in the US through a reverse merger with Nasdaq-listed SRM Entertainment.
The report comes only weeks after stablecoin issuer Circle went public, attracting speculation about which crypto firm would be next to file an IPO (Initial Public Offering).
Justin Sun’s Tron To Go PublicAccording to the Financial Times, the deal, reportedly valued at up to $210 million in token assets, comes just four months after the US SEC (Securities and Exchange Commission) agreed to pause its fraud investigation into Sun and three of his companies, including Tron (TRX).
BREAKING: TRON TO GO PUBLIC VIA NASDAQ REVERSE MERGER
PARTNERS WITH ERIC TRUMP TO FORM MICROSTRATEGY-STYLE COMPANY.
Source: @FT pic.twitter.com/SuaoE5r6iv
The investigation concerned allegations of unregistered securities sales and market manipulation.
Reportedly, Dominari Securities, a New York-based investment bank with close ties to President Donald Trump’s sons, Donald Trump Jr. and Eric Trump, is orchestrating the merger.
According to people close to the matter, the newly formed company will be called Tron Inc., and Eric Trump is expected to take a leadership role.
Is this the big news Eric Trump had hinted at earlier?
Tomorrow is not crypto related. Be patient! Big announcements to come! 