{"id":24726,"date":"2025-06-16T21:18:22","date_gmt":"2025-06-16T18:18:22","guid":{"rendered":"https:\/\/forklog.com\/en\/tron-rallies-9-after-ft-report-on-us-listing-via-reverse-merger\/"},"modified":"2025-06-16T21:18:22","modified_gmt":"2025-06-16T18:18:22","slug":"tron-rallies-9-after-ft-report-on-us-listing-via-reverse-merger","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tron-rallies-9-after-ft-report-on-us-listing-via-reverse-merger\/","title":{"rendered":"TRON rallies 9% after FT report on US listing via reverse merger"},"content":{"rendered":"<p>On June 16, TRON\u2019s token (TRX) jumped from ~$0.27 to ~$0.30, up about 9%. After a pullback, it returned to levels near $0.28.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"618\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/TRXUSDT_2025-06-16_19-33-52-1024x618.png\" alt=\"TRXUSDT_2025-06-16_19-33-52\" class=\"wp-image-260550\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/TRXUSDT_2025-06-16_19-33-52-1024x618.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/TRXUSDT_2025-06-16_19-33-52-300x181.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/TRXUSDT_2025-06-16_19-33-52-768x464.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/TRXUSDT_2025-06-16_19-33-52.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute chart of TRX\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/TRXUSDT\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The sharp move followed an <a href=\"https:\/\/www.ft.com\/content\/13a6cead-af71-4811-9b90-553f233ac45f\">FT<\/a> report on plans for the Justin Sun-founded blockchain project to list in the US. According to the paper, a firm affiliated with the entrepreneur, Tron, would go public via a reverse merger with Nasdaq-listed SRM Entertainment.<\/p>\n<p>The deal is being arranged by boutique investment bank Dominari Securities, which is linked to the US president\u2019s sons: Donald Trump Jr and Eric Trump.<\/p>\n<p>The new enterprise would buy and hold TRON tokens, mirroring Michael Saylor\u2019s Strategy. FT\u2019s sources said Tron committed to invest $210 million in digital assets into the newly created company.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 17, 2025 | 09:50<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>FT said Eric Trump was expected to take a role at the firm. He denied the claim.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI\u2019m the biggest fan of Tron and love Justin Sun \u2014 he is a great friend and an icon in the crypto space. That said the below is inaccurate \u2014 I don\u2019t have public involvement,\u201d he commented.<\/p>\n<\/blockquote>\n<p>Some users suggested he might be involved \u201cprivately\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/tier10k?ref_src=twsrc%5Etfw\">@tier10k<\/a> I\u2019m the biggest fan of Tron and love <a href=\"https:\/\/twitter.com\/justinsuntron?ref_src=twsrc%5Etfw\">@justinsuntron<\/a> \u2014 he is a great friend and an icon in the crypto space. That said the below is inaccurate \u2014 I don\u2019t have public involvement. <a href=\"https:\/\/t.co\/CDt0uudY1s\">https:\/\/t.co\/CDt0uudY1s<\/a><\/p>\n<p>\u2014 Eric Trump (@EricTrump) <a href=\"https:\/\/twitter.com\/EricTrump\/status\/1934669116046029272?ref_src=twsrc%5Etfw\">June 16, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>In a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2025\/06\/16\/3099827\/0\/en\/SRM-Launches-TRON-Treasury-Strategy-with-100-000-000-Equity-Investment.html\">press release<\/a>, SRM Entertainment did not confirm a possible merger. The firm said it had reached an agreement with an unnamed \u201cprivate investor\u201d to buy 100,000 shares worth $100 million. The funding will be used to build a corporate TRX treasury.<\/p>\n<p>Sun became a strategic adviser to SRM. The company also announced it would change its name to Tron.<\/p>\n<p>SRM will also issue warrants for 220 million shares at a $0.50 strike, which could lift the total amount raised to $210 million \u2014 matching FT\u2019s figure.<\/p>\n<p>Dominari Securities will act as the exclusive placement agent.<\/p>\n<p>SRM shares surged more than 500% after the open. Following the initial frenzy, the price retraced. At the time of writing, the stock was up ~440% from the session\u2019s start. The company\u2019s market capitalisation stands at $156.4 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"566\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/SRM-Entertainment-Inc.-SRM-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-1024x566.jpg\" alt=\"SRM-Entertainment-Inc.-SRM-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome\" class=\"wp-image-260551\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/SRM-Entertainment-Inc.-SRM-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-1024x566.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/SRM-Entertainment-Inc.-SRM-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-300x166.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/SRM-Entertainment-Inc.-SRM-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome-768x424.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/SRM-Entertainment-Inc.-SRM-Stock-Price-News-Quote-History-Yahoo-Finance-Google-Chrome.jpg 1028w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/finance.yahoo.com\/quote\/SRM\/\">Yahoo Finance<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Sun, the US and the Trumps<\/h2>\n<p>In March 2023, the US Securities and Exchange Commission (SEC) <a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-and-tron-foundation-seek-dismissal-of-sec-lawsuit\">accused<\/a> Sun and three affiliated companies of conducting an unregistered securities offering in the form of TRON and BitTorrent (BTT) tokens.<\/p>\n<p>The regulator also alleged that the entrepreneur, TRON Foundation, BitTorrent Foundation and Rainberry manipulated the TRX secondary market via \u201cwash trading\u201d.<\/p>\n<p>Sun\u2019s representatives sought to dismiss the suit on the grounds that the China-born founder is not a US citizen. The SEC cited its <a href=\"https:\/\/forklog.com\/en\/news\/sec-justifies-legal-pursuit-of-justin-sun-due-to-frequent-us-visits\">right to pursue legal action<\/a> against the TRON founder because he frequently visited the United States.<\/p>\n<p>In November 2024, Sun <a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-becomes-leading-investor-in-world-liberty-financial\">bought 2bn WLFI tokens<\/a> of the crypto platform linked to the family of the newly elected US president, <a href=\"https:\/\/forklog.com\/en\/news\/trump-family-secures-control-over-world-liberty-financial\">World Liberty Financial <\/a>for $30 million, making him the project\u2019s largest investor.<\/p>\n<p>In May 2025, the entrepreneur, together with 24 other top holders of the TRUMP memecoin, attended <a href=\"https:\/\/forklog.com\/en\/news\/trumps-gala-for-trump-token-holders-sparks-calls-for-guest-list-disclosure\">a dinner with Donald Trump<\/a> at the Trump National golf club in Virginia, according to FT.<\/p>\n<p>Sun\u2019s exchange HTX <a href=\"https:\/\/forklog.com\/en\/news\/htx-embraces-usd1-and-prepares-for-wlfi-launch\">added<\/a> support for the USD1 stablecoin from World Liberty, and in early June the asset launched on the TRON blockchain.<\/p>\n<p>Back in February, Sun and the SEC <a href=\"https:\/\/archive.ph\/o\/Ba7fp\/https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.596044\/gov.uscourts.nysd.596044.82.0.pdf\">filed<\/a> a motion in court to pause the proceedings in search of a settlement. After Donald Trump entered the White House, the regulator ended actions against several crypto companies, including <a href=\"https:\/\/forklog.com\/en\/news\/sec-concludes-investigation-with-coinbase\">Coinbase<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/sec-drops-investigation-into-robinhoods-crypto-division\">Robinhood<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/sec-withdraws-claims-against-ripple\">Ripple<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/sec-withdraws-lawsuits-against-kraken-consensys-and-cumberland\">Kraken, ConsenSys, Cumberland<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/sec-drops-case-against-helium-network-developer\">Nova Labs<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/sec-concludes-investigation-into-uniswap-labs\">Uniswap<\/a>.<\/p>\n<p>The Commission is already reviewing <a href=\"https:\/\/forklog.com\/en\/news\/sec-to-review-tron-based-etf-application\">an application<\/a> to register a spot TRX exchange-traded fund with staking from Canary Capital.<\/p>\n<p>Earlier, VanEck\u2019s head of digital assets, Matthew Sigel, <a href=\"https:\/\/forklog.com\/en\/news\/expert-labels-xrp-and-sol-crypto-treasuries-as-scams\">called fraudulent<\/a> statements by small-cap companies about forming crypto reserves worth hundreds of millions of dollars.<\/p>\n<p>Coinbase Institutional analysts considered the trend of copying Strategy\u2019s approach a <a href=\"https:\/\/forklog.com\/en\/news\/corporate-bitcoin-treasuries-pose-systemic-risks-to-crypto-markets\">systemic risk<\/a> for the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 16, TRON\u2019s token (TRX) jumped from ~$0.27 to ~$0.30, up about 9%. After a pullback, it returned to levels near $0.28. 15-minute chart of TRX\/USDT on Binance. Data: TradingView. The sharp move followed an FT report on plans for the Justin Sun-founded blockchain project to list in the US. According to the paper, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1302,1211,951,26],"class_list":["post-24726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-justin-sun","tag-stock-market","tag-tron","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"222","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24726"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24725"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}