The deal, arranged by Dominari Securities — an investment bank with close ties to the Trump family — will allow Justin Sun to bypass a conventional initial public offering and place his crypto project in regulated markets through an indirect route.
The new entity, to be named Tron Inc., will receive an injection of up to $210 million in TRX tokens from platforms controlled by Sun. The strategy mirrors the model Michael Saylor applied with Strategy, turning his company into a leveraged holder of Bitcoin. In this case, Tron Inc. will concentrate reserves of its own token as a core strategic asset. According to sources close to the deal, Eric Trump is expected to take a formal role within the company.
The announcement triggered an immediate market reaction. TRX’s price rose 2.3%, nearly reaching $0.28. Its trading volume skyrocketed by 220%, approaching $1 billion.
The political and legal backdrop was also decisive. In 2023, the U.S. Securities and Exchange Commission accused Sun and his companies of selling unregistered securities and manipulating the market. However, with Donald Trump back in the presidency, the agency agreed in February to pause the case in order to explore a potential settlement. Since then, Sun has deepened his ties with the president’s inner circle and directed resources toward aligned ventures.
In May, Sun attended a private dinner at Trump National Golf Club alongside the top holders of the $Trump memecoin. He also invested $75 million in World Liberty Financial, a crypto firm linked to the Trump family, from which the president has already earned $57 million in income. The company recently issued its first stablecoins on the Tron blockchain.
Dominari Securities, the bank managing the merger, operates out of Trump Tower and has a track record of raising funds for Elon Musk’s projects, including SpaceX and xAI
