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Justin Sun’s Tron Eyes IPO: A Bold Move for Crypto’s Most Controversial Network

Justin Sun’s Tron Eyes IPO: A Bold Move for Crypto’s Most Controversial Network

Published:
2025-06-17 07:58:55
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Justin Sun’s Tron aims for IPO

Tron founder Justin Sun is making waves again—this time with plans to take his blockchain brainchild public. The move could shake up both crypto and traditional finance, assuming regulators don’t torpedo it first.

Why an IPO now? Sun’s never met a spotlight he didn’t like, and what better way to cement Tron’s legitimacy than a Nasdaq listing? Never mind that most investors still can’t explain how proof-of-stake works.

The road ahead: Expect fireworks as Tron navigates SEC scrutiny. If successful, this could open floodgates for other crypto projects—or become a cautionary tale about mixing decentralized ideals with Wall Street’s shark tank.

Listing despite controversial background

This MOVE comes about four months after US regulators suspended or froze their investigation into Justin Sun. This paves the way for Tron to take control of SRM via reverse merger and then become publicly listed as per tradition. This form of listing offers quicker market access and less complexity compared to a traditional IPO.

It remains unclear what valuation Tron will receive as part of the merger. Behind the deal is Dominari Securities, a boutique investment bank with ties to the TRUMP family – a detail that adds political controversy given Sun’s previous USD 75 million investment in Trump-aligned projects. Shares of SRM Entertainment surged following the announcement.

Stock price of SRM Entertainment Group / Source: Yahoo Finance

Explosive political dimension

Tron''s IPO sits in a political grey area: critics, including former Congressman Sean Casten, point to parallels between Sun’s past donations to Trump-aligned groups and the current listing. The halted investigations and the regulatory “pause” in favor of the listing raise questions about the independence of US authorities and possible political influence – making the listing noteworthy not only from a financial but also a legal-political perspective.

If the listing proceeds as planned, it would mark another major step by traditional capital markets into the Web3 space. Tron would stand alongside crypto startups like Coinbase and Kraken, which also chose to go public. However, Tron and founder Justin Sun remain far more controversial due to a lack of transparency in their history.

|Square

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