TRONs Price Surges 9% Amid Speculations of U.S. Market Listing

On June 16, the price of the TRON token (TRX) surged from approximately $0.27 to around $0.30, marking an increase of roughly 9%. Following a correction, the asset settled back to levels near $0.28.

This sharp price movement occurred after the Financial Times published an article about plans by Justin Sun to take his blockchain project public on a U.S. exchange. According to the report, a firm affiliated with Sun, Tron, is set to go public through a reverse merger with SRM Entertainment, a company listed on Nasdaq.

The deal is being facilitated by a small investment bank, Dominari Securities, which is linked to the sons of former President Donald Trump—Donald Trump Jr. and Eric Trump.

The newly formed entity will aim to buy and hold TRON tokens, mirroring the strategy of Michael Saylor’s firm. Sources cited by the Financial Times indicate that Tron has committed to investing $210 million in digital assets into the newly established company.

While it was anticipated that Eric Trump would take a role within the firm, he has denied these claims.

«I am a huge fan of Tron and consider Justin Sun a great friend and an icon in the crypto space. However, what has been said below is inaccurate—I am not participating publicly,» he remarked in response to the news.

In reaction, some users speculated that Trump might be involved in the venture «privately.»

In a press release, SRM Entertainment did not confirm any details regarding the potential merger, stating that it has reached an agreement with an unnamed «private investor» to purchase 100,000 shares valued at $100 million. The funding will be allocated to establish a corporate treasury in TRX.

Sun has become a strategic advisor for SRM, which has announced plans to change its name to Tron.

Additionally, SRM will issue warrants for 220 million shares with an exercise price of $0.50, potentially raising the total funds to $210 million, aligning with the amount mentioned by the Financial Times.

Furthermore, Dominari Securities has been designated as the exclusive agent for the placement of the securities.

Following the start of trading, SRM’s stock skyrocketed by over 500%. However, after an initial surge, the shares began to correct. At the time of writing, they had increased by approximately 440% since the session opened, with the company’s market capitalization sitting at $156.4 million.

In March 2023, the U.S. Securities and Exchange Commission (SEC) accused Sun and three affiliated companies of unregistered securities offerings involving TRON and BitTorrent (BTT) tokens.

The regulator also charged Sun, TRON Foundation, BitTorrent Foundation, and Rainberry with manipulating the secondary TRX market through «wash trading».

Sun’s representatives attempted to contest the lawsuit on the grounds that he does not hold U.S. citizenship. The SEC explained its right to pursue legal action against the TRON founder based on his frequent visits to the U.S.

In November 2024, Sun purchased 2 billion WLFI tokens connected to the family of the newly elected U.S. President for $30 million, making him the largest investor in the project.

In May 2025, the entrepreneur joined 24 primary holders of the TRUMP meme coin for a dinner with Donald Trump at Trump National Golf Club in Virginia, according to the Financial Times.

Sun’s exchange, HTX, added support for the USD1 stablecoin from World Liberty, which was launched on the TRON blockchain in early June.

In February, both Sun and the SEC filed a motion to stay the legal proceedings in search of options to resolve the case. After Trump’s election into the White House, the regulator dropped actions against several crypto companies, including Coinbase, Robinhood, Ripple, Kraken, ConsenSys, Cumberland, Nova Labs, and Uniswap.

The SEC is currently reviewing an application for the launch of a spot exchange-traded fund based on TRX that features staking from Canary Capital.

It is worth noting that Matthew Sigel, head of digital asset strategy at VanEck, labeled claims by smaller-cap companies about forming crypto reserves worth hundreds of millions of dollars as fraudulent.

Coinbase Institutional analysts deemed the trend of copying Saylor’s strategy a systemic risk for the industry.