Tron Looks to Go Public in the U.S., Form Strategy-Like TRX Holding Firm:https://www.coindesk.com/bu
Tron will go public via a reverse merger with Nasdaq-listed SRM Entertainment.
The deal is being managed by New York-based investment bank Dominari Securities.
Tron, the blockchain founded by billionaire Justin Sun, is looking to go public in the U.S., the Financial Times reported on Monday.
Tron will go public via a reverse merger with Nasdaq-listed SRM Entertainment, the report said, citing people familiar with the matter. The deal is being managed by Dominari Securities, an investment firm with ties to the Trump family, the report added.
The new firm will buy and hold Tron's TRX
TRX
$0.27280
, similar to Michael Saylor-led bitcoin
BTC
$104,633.58
holding firm Strategy (MSTR). Tron will add $210 million worth of tokens into the new firm.
TRX jumped nearly 4% to 28 cents after the FT report was published. Shares of SRM Entertainment jumped nearly 250% to $5.1 in pre-market trading.
The move comes as a slew of crypto firms have gone public in the U.S .