Tron, the cryptocurrency platform led by Justin Sun, has announced a significant deal with Nasdaq-listed SRM Entertainment. Under the agreement, SRM will be renamed Tron Inc., with Sun joining as an adviser and the company purchasing Tron tokens.
A private investor plans to inject $100 million into the deal, potentially reaching $210 million if warrants are exercised. While the Financial Times reports that Tron itself is the investor and aims to go public through a reverse merger with SRM, neither company has confirmed these details.
The deal was facilitated by Dominari Securities, a New York investment bank whose parent company recently added Donald Trump Jr. and Eric Trump to its board. Notably, Sun has connections to Trump’s World Liberty Financial crypto venture, having invested $75 million in the project and listed its USD1 stablecoin on the Tron network. Sun, who faces an ongoing SEC civil fraud lawsuit (currently on hold), has established himself as a significant figure in both cryptocurrency and Trump-affiliated business ventures. SRM Entertainment, known for designing and selling custom merchandise, saw its stock price surge over 300% following the announcement, climbing from $1.45 to $6.70.
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