Justin Sun's Tron strives for the IPO (IPO)
After months of US investigations, Tron should go to the US exchange Nasdaq via SRM Entertainment-a strategically charged listing for the controversial founder and billionaire Justin Sun.
Tron, the Blockchain platform of Justin Sun, is planning a public listing about a Reverse Merger transaction with the Nasdaq listed company SRM Entertainment. The merger takes place via the investment bank Dominari Securities and could place Tron on the US exchange within a few weeks. The background is a US tax legislator “Moratorium”: Investigations against Sun and Tron have been paused, which free the way for the listing, such as Financial Times reported.
IPO despite the controversial background
The step takes place around four months after US regulators have set their investigation against Justin Sun or put it on ice. The way is thus clearing that Tron takes control of SRM via Reverse Merger and is then traditionally listed. This form of listing offers the advantage of faster market access and less complexity than a classic IPO.
So far, it remains unclear which evaluation for Tron is set as part of the merger. Behind the deal is Dominari Securities, a boutique investment bank with connections to the Trump family-which, in view of Sun's early 75 million USD investment, harbors additional political explosives in Trump-related projects. The share price of the partner company SRM Entertainment shot rapidly after the announcement.
Explosive political dimension
Tron's IPO is in a political gray area: critics, such as ex-Congressman Sean Casten, refer to the parallels between Sun's earlier grants to Trump-related groups and the current listing. The lack of investigations or the “break” for regulatory processes in favor of listing raise questions about the independence of the US authorities and possible political influence-one reason why the listing is not only considered from a financial but also from a legal point of view.
If the listing takes place as planned, it would be another prominent initiative of traditional capital markets towards Web3. Tron would be at eye level with crypto startups such as coinbase or octopuses, which have also chosen public momentum. However, Tron and the founder Justin Sun are far more controversial due to an non -transparent past.
