New York, June 17, 2025 - Crypto platform Tron announced on Tuesday a deal with SRM Entertainment, a Nasdaq-listed company, to acquire its tokens. (Source: Financial Times, June 17, 2025)
The agreement involves renaming SRM to Tron Inc. and appointing Tron founder Justin Sun as an advisor. The Financial Times reported that Tron is behind the investment and plans to go public in the U.S. through a reverse merger with SRM. The deal is valued at $100 million in equity, potentially rising to $210 million with warrants.
The deal was facilitated by Dominari Securities, a New York-based investment bank. SRM's shares surged over 300% on Tuesday, climbing from $1.45 to a peak of $6.70. Justin Sun, who founded the Tron blockchain, was sued by the U.S. Securities and Exchange Commission in 2023; that civil fraud case is currently on hold. Sun has invested $75 million into Trump's World Liberty Financial crypto venture.