According to the Financial Times, after escaping the suspension of investigation by US regulatory authorities, Tron, the blockchain project under Sun Yuchen, plans to enter the US capital market and start the listing process.
Two people familiar with the matter disclosed that Tron will adopt a reverse merger approach and reach a cooperation with Nasdaq-listed company SRM Entertainment to go public. This transaction was led and advanced by Dominari Securities, a boutique investment bank in New York. Notably, this bank is associated with Donald Trump Jr. and Eric Trump.
According to a person familiar with the matter, the newly established joint venture after the merger will follow Strategy (formerly MicroStrategy) and adopt an asset strategy of purchasing and holding TRX tokens. Furthermore, Eric Trump is expected to hold a position in the new company, Tron Inc. In this transaction, Tron will inject token assets worth up to 210 million US dollars into the new company. This move undoubtedly provides strong financial support for the listing plan.
Tron’s current move to seek an IPO in the United States has drawn widespread attention in the cryptocurrency industry and the capital market. On the one hand, this is another attempt to integrate crypto projects with the traditional capital market; On the other hand, the multi-party connections involved behind it and the unique token asset injection model have also raised questions from the outside world about the compliance and future development of the transaction. The subsequent progress of Tron’s listing and the market’s response to it will become the focus of industry attention.
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