Tron (TRX-USD) is getting ready to go public, and it’s doing it with big names, and a strategy that sounds straight out of Michael Saylor’s playbook.
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According to a Financial Times report on Monday, Justin Sun’s blockchain empire will merge with Nasdaq-listed SRM Entertainment through a reverse takeover, a backdoor route to a public listing. The deal is being handled by Dominari Securities, an investment firm with ties to the Trump family. And yes, there’s even a Trump in the room: Eric Trump is set to take a role in the new entity, Tron Inc.
This isn’t just about going public. It’s about building a corporate vehicle that holds TRX the same way Strategy (MSTR) holds Bitcoin. The new firm will buy and hold $210 million worth of TRX — transforming the token into a treasury asset, not just a trade.
Tron Jumps on News, SRM Explodes 250%
TRX surged nearly 4% to $0.28 after the news broke. Shares of SRM, the shell company Tron will merge into, exploded almost 250% in pre-market trading, hitting $5.10.
Investors see more than just a rebranding exercise here. They see a convergence of crypto, politics, and public markets, all rolled into one flashy, headline-grabbing strategy. With Trump allies involved, a halted SEC case, and a $210 million TRX commitment, Sun is sending a clear message: Tron wants legitimacy, liquidity, and leverage.
Tron Plans to Hold $210M in TRX
Tron Inc. isn’t just a placeholder, it’s loaded. The new firm will hold $210 million in TRX right out of the gate. By locking up that amount on a public balance sheet, Sun is signaling long-term conviction while creating a more transparent (and arguably bullish) structure for investors.
If the move is successful, it could reduce circulating TRX supply and give traders a clearer framework for valuing the token, especially if Tron Inc. continues to accumulate more over time. In essence, it’s an engineered scarcity play wrapped in a public vehicle.
Trump Ties Add Political Firepower
Here’s where things get more interesting: Eric Trump will take a formal role in the newly-formed Tron Inc. That means Sun’s ambitions aren’t just financial — they’re deeply political.
Sun has been cozy with the Trump camp for months, attending the private $TRUMP memecoin holders dinner and backing Trump’s presidential bid. The SEC paused its civil case against him after Trump took office — a signal that Sun may now have more regulatory breathing room to make bold moves in U.S. markets.
This isn’t just about crypto — it’s about crypto power.
Sun Gets Regulatory Breathing Room
Let’s be clear: the SEC had Sun in its crosshairs. But now that Trump is back in the White House, those clouds are clearing. The civil fraud case against him was quietly put on hold, and no new enforcement actions have been taken since.
That matters, especially in a climate where many crypto founders are still stuck in legal limbo. Sun seems to be capitalizing on his timing — launching a pro-TRX strategy at a time when Washington is signaling support for “friendly” digital asset frameworks.
Tron Mirrors the Bitcoin Treasury Model
This is a bet that the Saylor strategy works beyond Bitcoin. By forming a public company whose main function is to hold TRX, Sun is taking a page from MicroStrategy’s playbook and rewriting it with his own asset.
The difference? Strategy was trying to bootstrap institutional Bitcoin adoption. Tron is going straight for the retail–Wall Street crossover. If this catches on, expect copycat firms to do the same with other layer-1 tokens — Solana, Avalanche, and maybe even meme coins.
Sun’s not just going public. He’s trying to make TRX unignorable.
More Crypto Firms May Follow
Circle just listed. Coinbase is thriving. Bitwise’s ETFs are setting inflow records. The market is warming to crypto-native companies that act like legacy finance players — and Tron Inc. fits the mold.
This could spark a wave of token-backed public listings, especially if the SEC continues to ease up and Washington politics stay pro-crypto. If Sun’s TRX treasury model gains traction, don’t be surprised if Solana, Aptos, or even meme coin projects attempt similar plays.
Let’s not forget: all of this hinges on execution. If Tron Inc. manages its treasury well and stays out of regulatory trouble, it could become a new kind of price anchor for TRX. That could support price through downturns and offer upside in bull markets.
At the time of writing, TRX is sitting at $0.28.
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