Breaking: Tron Going Public with $210 Million Strategy-Like TRX Bet

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Tron is poised to enter the public market through a merger with SRM Entertainment, a smaller entity already listed on the Nasdaq exchange.

Tron, the digital currency project led by Justin Sun, is reportedly planning to go public in the U.S., according to a recent report by the Financial Times.

Instead of a traditional initial public offering (IPO), Tron has chosen a reverse merger with Nasdaq-listed SRM Entertainment as its path to the public market.

The newly formed company will operate under the Strategy of Tron banner, fueled by an initial investment of $210 million in TRX from Justin Sun's digital asset platform.

Following the announcement, Tron (TRX), currently the eighth-largest cryptocurrency by market capitalization, experienced a surge of nearly 5%. CoinGecko data indicates it is presently trading around $0.28. The Financial Times report also noted a brief period where TRX surpassed Dogecoin (DOGE) in market cap. Both cryptocurrencies are currently valued at approximately $26.5 billion and have been exchanging leaderboard positions.

As previously reported by U.Today, Justin Sun faced legal action from the U.S. Securities and Exchange Commission (SEC) in 2023, with allegations of manipulating TRX's price.

However, in February, it was reported that the SEC had dropped charges against Sun as part of a broader effort to roll back aggressive crypto enforcement policies initiated by former SEC head Gary Gensler. Read original article on U.Today