Key Takeaways:
- Eric Trump denies any public position in Tron’s Nasdaq itemizing regardless of his ties to the agency brokering the deal.
- Tron plans to go public by way of a reverse merger with SRM Leisure, backed by a $100M funding.
- Justin Solar’s rising relationship with the Trump household has raised eyebrows amid a paused SEC investigation.
Eric Trump has dismissed studies linking him to a direct position in Tron’s deliberate Nasdaq itemizing, regardless of his advisory place at Dominari Securities, the agency dealing with the deal.
“I’m the most important fan of Tron and love Justin Solar,” Trump posted on X Monday, calling Tron founder Justin Solar “an amazing buddy and an icon within the crypto area,” whereas clarifying, “I don’t have public involvement.”
The remark has fueled hypothesis over whether or not a “personal involvement” exists between Trump and the mission.
Tron to Go Public by way of Reverse Merger With SRM Leisure
Tron’s upcoming public debut is anticipated to proceed by way of a reverse merger with Florida-based SRM Leisure, which not too long ago mentioned it had acquired a $100 million funding from an undisclosed occasion and would rebrand itself as “Tron.”
Solar will function an advisor, and the corporate plans to start accumulating TRX tokens below a brand new crypto treasury technique.
Dominari Securities, a Trump-affiliated agency headquartered in Trump Tower, is the unique placement agent for a $210 million inventory providing tied to the deal.
Each Eric Trump and Donald Trump Jr. joined Dominari’s advisory board earlier this 12 months.
Solar’s connections to the Trump household have strengthened in latest months.
He attended a personal occasion for Trump’s meme coin launch, took a $75 million stake in World Liberty Monetary (WLFI), and stays the most important holder of the $TRUMP token.
In Could, Solar was additionally awarded a luxurious Trump Golden Tourbillon watch in the course of the unique dinner hosted by Donald Trump.
The occasion, held at Trump’s personal golf membership in Virginia, gathered the highest 220 $TRUMP memecoin holders.
Following Solar’s WLFI funding, the U.S. Securities and Alternate Fee quietly paused its long-running investigation into him and his affiliated corporations.
The probe had centered on alleged market manipulation and the sale of unregistered securities.
Trump Continues to Capitalize on Crypto Market Momentum
In the meantime, Donald Trump continues to capitalize on crypto market momentum.
In response to monetary disclosures launched final Friday, the previous president pulled in $58 million from crypto ventures in 2024, primarily via WLFI token gross sales.
That complete trailed solely his hospitality revenue and is anticipated to climb additional in 2025 with an anticipated $390 million token sale and positive factors from his meme coin, launched in January.
His involvement in Bitcoin mining, tokenized property, and digital ETFs is elevating considerations about potential conflicts of curiosity.
Critics have identified that a few of his companies have seen tailwinds from favorable coverage choices throughout his time in workplace.
As reported, the SEC has accredited Trump Media and Expertise Group’s (TMTG) registration assertion tied to a $2.3 billion Bitcoin treasury initiative.
The June 13 submitting covers 85 million shares, together with 29 million linked to convertible notes.
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