Key Takeaways:
Eric Trump has refuted reports suggesting he has a public role in Tron’s forthcoming Nasdaq listing, despite his association with Dominari Securities, the firm orchestrating the deal. The cryptocurrency platform intends to go public via a reverse merger with SRM Entertainment, which has secured a $100 million investment. Additionally, Justin Sun’s increasing ties to the Trump family have drawn scrutiny against the backdrop of a suspended SEC investigation.
In a recent post on X, Eric Trump rejected claims regarding his involvement in Tron’s Nasdaq plans while acknowledging his advisory role at Dominari Securities. “I’m the biggest fan of Tron and love Justin Sun,” he wrote, referring to the Tron founder as “a great friend and an icon in the crypto space.” However, he emphasized, “I don’t have public involvement,” prompting speculation regarding the nature of his ties to the project.
Tron to Go Public via Reverse Merger With SRM Entertainment
Tron is set to make its public market debut through a reverse merger with SRM Entertainment, based in Florida. SRM recently announced a $100 million investment from an undisclosed source, with plans to rebrand itself as “Tron.” Justin Sun is slated to act as an advisor, while the company aims to implement a strategy to accumulate TRX tokens within a new crypto treasury.
Dominari Securities, affiliated with Eric Trump and located in Trump Tower, is serving as the exclusive placement agent for a $210 million stock offering associated with this transaction. Both Eric Trump and Donald Trump Jr. became advisory board members of Dominari earlier this year.
Sun’s relationship with the Trump family has deepened in recent months. He participated in the launch of Trump’s meme coin and acquired a $75 million stake in World Liberty Financial (WLFI), also positioning himself as the largest holder of the $TRUMP token. In May, Sun received a luxury Trump Golden Tourbillon watch during an exclusive dinner hosted by Donald Trump, which brought together the top holders of the $TRUMP memecoin at Trump’s private golf club in Virginia.
Following Sun’s investment in WLFI, the U.S. Securities and Exchange Commission (SEC) chose to quietly suspend its extended investigation into him and his associated companies, a probe that focused on allegations of market manipulation and the distribution of unregistered securities.
Trump Continues to Capitalize on Crypto Market Momentum
Meanwhile, Donald Trump is actively leveraging the momentum in the cryptocurrency market. Financial disclosures released last Friday indicated that the former president earned $58 million from cryptocurrency ventures in 2024, largely through WLFI token sales. This figure ranks just behind his income from hospitality and is projected to rise further in 2025, buoyed by an expected $390 million token sale and profits from his recently launched meme coin.
Concerns have been raised regarding potential conflicts of interest due to Trump’s involvement in Bitcoin mining, tokenized assets, and digital exchange-traded funds. Critics have noted that certain businesses have benefited from favorable policy outcomes during his presidency.
Reportedly, the SEC has approved the Trump Media and Technology Group’s (TMTG) registration linked to a $2.3 billion Bitcoin treasury initiative. The filing, dated June 13, encompasses 85 million shares, with 29 million associated with convertible notes.
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