Final yr, Justin Sun was going through a federal investigation into his crypto empire, to the level that he averted coming into the US. Now, his company goes to be publicly listed on the American inventory markets – and reportedly with the help of Eric Trump.
Tron, Sun’s digital property platform, announced on Monday that it plans to go public in the U.S. by way of a reverse merger with SRM Leisure, a Nasdaq-listed company that beforehand designed merchandise for theme parks earlier than pivoting to crypto. At the identical time, Trump’s sons introduced the launch of Trump Mobile, an MVNO that may even promote a $499 gold Android telephone.
On the company’s web site, SRM states that it has labored with Walt Disney World, SeaWorld, and Sesame Place. SRM says it has raised $100 million from a personal investor to purchase the Tron tokens (TRX), with plans to problem shares and warrants valuing the deal at as much as $210 million.
The deal was brokered by Dominari Securities, a New York-based boutique funding financial institution working out of Trump Tower, whose board includes both Donald Trump Jr. and Eric Trump, the president’s sons. Shortly after Trump’s election, Sun grew to become an advisor and investor in World Liberty Monetary, the Trump household’s crypto company, and promptly purchased $75 million of their memecoin, $TRUMP, when the token launched in January.
By the finish of February, the SEC had formally paused its investigation into Sun’s businesses. Sun continued to put money into Trumpworld entities, each in crypto and elsewhere: in Could, he received a personal dinner with the president by shopping for $16 million price of $TRUMP in a contest.
