Justin Sun's tron plans to be public in the US with Trump family support

By Hannah Pérez

The block chain founded by Justin Sun, Tron, aims to become a public company through a merger and with the support of a company linked to the children of Donald Trump.

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Tron, the blockchain founded by Justin Sun, plans to become a public company in the US.
According to reports, he seeks a merger agreement and the support of a company linked to the children of Donald Trump.
Eric Trump is expected to join the team assuming a high position in Tron Inc.

Tronthe project Blockchain Founded by businessman Justin Sun, he would be planning to become a public company in the United States thanks –in part– to the support of Donald Trump’s family.

According to a report from Financial Timespublished on Monday, Tron is chasing plans to publicly quote on an American stock exchange through a reverse fusion with SRM Entertainmentwhich is quoted in Nasdaq.

The report, which cites people familiar with the matter, adds that the agreement is being administered by Dominari Securitiesan investment firm based in New York linked to Donald Trump Jr. and Eric Trump, children of the current US president.

Founded in 2017 by Justin Sun, Tron It is a platform Blockchain Decentralized, which prioritizes speed and efficiency and is designed with the aim of creating an ecosystem for decentralized applications (DAPPS). Its native cryptocurrency is TRX.

Tron It is known for its high transaction processing capacity, low rates and its focus on sectors such as defi, NFT and digital entertainment. Since its launch, Tron It has grown significantly, standing out for being the main support network for USDT of Tetherthe greatest Stablecoin of the world for market capitalization.

Eric Trump will join Tron Inc.

Under the name Tron Inc.the new company plans to buy and maintain the native TRX cryptoc Strategyleader in the world in the treasury strategy Bitcoin.

The firm plans to start an injection of USD $ 210 million in TRX, reported Financial Times without specifying where capital would come from for such investment. Eric Trump is expected to join the leadership team of the newly formed company, according to the report.

The report comes at a time when a growing number of companies in the United States seeks to make public for a changing environment under Trump’s favorable administration. Circle He recently debuted in the stock market after an initial public offer (IPO).

Of a DAO to a public company

It is not clear how Tron It will go from an autonomous organization model to a public company.

The project was initially under the supervision of the Tron Foundation, which was a non -profit entity, before reorganizing as a DAO (decentralized autonomous organization) after Sun’s exit to the Foundation in 2021. The supervision of a DAO means that the project does not have a CEO.

Sun, who previously directed the Foundation, is still seen as an influential figure in the ecosystem Tron. The entrepreneur has close links with several companies in the cryptocurrency ecosystem, such as Rainberry (previously Bittorrent), POLONIEX and HTX. It is also linked to decentralized applications Justlend and SNNSWAPas you remember The Block.

The report also seems to confirm the increasingly narrow Sun ties with Trump’s family.

The controversial entrepreneur invested USD $ 75 million in the decentralized financial project backed by the Trump family, World Liberty Financialand also bought large amounts from Token Trump, which the president launched shortly before his inauguration in January. That Trump stash guaranteed Sun assistance to a banquet with the president last month.

The regulators of the United States accused SUN in 2023 and three of their associated companies for the sale of unregistered values and market handling. However, that case was abandoned and the parties agreed an agreement this year as the Bag and Securities Commission (SEC) moved to establish clearer rules as part of the Trump approach in favor of the asset class.

TRX increased 2% price in the last 24 hours while shares of SRM Entertainment 230% were fired in Nasdaq after the opening of the market on Monday, according to data from Google Finance.

Hannah Estefanía Pérez / Diariobitcoin

Image created with AI, under free use license

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