After the scrutiny that Justin Sun faced in the United States, he has now successfully transformed his company and crypto platform, TRON, into a publicly traded one in the country. It was revealed by reports that this is through the help of President Donald J. Trump’s son, Eric, who not only made this happen but is also taking on a new role at Sun’s company.
This follows the recent developments that led to Justin Sun being one of the biggest investors of World Liberty Financial and eventually an ally of President Trump and his sons.
Justin Sun Takes Crypto Platform, TRON, Public
SRM Entertainment previously announced that Justin Sun’s TRON crypto platform is planning to go public. According to The Verge’s latest report, the controversial executive’s platform is set to engage in a reverse merger with SRM Entertainment that would make this possible, with Tron Inc. looking to be a publicly listed company on the American stock markets.
It was revealed by the company that they have already raised $100 million from a private investor who would be the one to purchase TRX (Tron tokens) from the company with plans to establish shares and warrants that would bump the deal’s value up to $210 million.
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Eric Trump Reportedly Helped Sun, Gets TRON Seat
According to the report, their deal was brokered by Dominari Securities, an investment bank that operates from the Trump Tower in New York City and features a board that has both Donald Trump Jr. and Eric Trump as its members.
Sun previously helped the Trump family in their WLFI ventures by purchasing as much as $75 million tokens of the $TRUMP meme coin in its January launch. Subsequently, all the investigations behind Justin Sun were paused by the SEC come January.
The Financial Times cited a source claiming that Eric Trump is set to assume a position in Sun’s company that would soon be called Tron Inc.
Justin Sun and His Controversies
Justin Sun may be one of the most prolific crypto entrepreneurs of this time, but he is also known for the many controversies surrounding his name and companies since he began his operations. At one point, he acquired the crypto exchange platform known as Poloniex, and in 2021, it was alleged that Sun wanted to acquire misplaced customer funds that were sent to the wrong addresses totaling 300 Bitcoin.
In 2023, Sun made headlines for facing civil charges filed by the US Securities and Exchange Commission (SEC) for alleged securities violations involving his three companies, Tron Foundation, BitTorrent Foundation, and Rainberry. Sun, alongside eight celebrity backers like Lindsay Lohan, Jake Paul, and more, faced complaints for promoting unregistered bounty programs on social media and instant messaging platforms.
Last year, Sun likewise faced a federal investigation into his cryptocurrency operations apart from the other complaints in his platform, leading him to avoid entering the United States. However, President Trump’s focus on crypto and his win in the 2024 elections changed a lot for Sun, with him helping WLFI when it was in a bind, and this led to his close ties with the Trump family.
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