Tron to go public after U.S. pauses probe into billionaire founder, FT reports

Crypto billionaire Justin Sun’s digital asset platform Tron is set to go public in the U.S., four months after market regulators agreed to pause a fraud investigation into several of his companies, Financial Times’ George Steer and Philip Stafford report. Tron will go public in a reverse merger with Nasdaq-listed SRM Entertainment (SRM) in a deal orchestrated by Dominari Securities, a New York-based boutique investment bank with ties to Donald Trump Jr and Eric Trump, according to two people briefed on the matter. The new venture will buy and hold the Tron token, mimicking the tactics of Strategy, formerly MicroStrategy (MSTR), which founder Michael Saylor has turned into a leveraged bitcoin vehicle, one of the people said. Shares of SRM are trading up almost 230% in pre-market. Other publicly traded companies in the space include Bit Digital (BTBT), Bitfarms (BITF), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Riot Platforms (RIOT), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).