The report by the Financial Times on Monday, citing people familiar with the matter, informs that the Justin Sun-founded blockchain project has partnered with Dominari Securities, an investment firm with ties to the US President, Donald Trump, to manage the deal.
The joint entity will buy and hold Tron’s native token, TRX, in a move that will resemble, to a large extent, what Michael Saylor’s Strategy is doing with Bitcoin.
Eric Trump, one of the POTUS’s sons, will have a role in the new firm, although the FT didn’t provide any specifics.
These developments are in stark contrast to Justin Sun’s history with the former presidential administration and the Gary Gensler-led SEC. Just over two years ago, Sun and his companies were charged by the securities watchdog for fraud and other law violations.
However, the Tron founder has established a closer and friendlier relationship with the 47th US President, Donald Trump.
Recall that the blockchain executive attended a special dinner event organized by Trump’s team for the largest holders of Official Trump, the meme coin linked to the President.
Sun has been openly praising the current administration, saying in an interview with CoinDesk after the TRUMP dinner that haters should really pay attention to what’s going on in the US.
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Tron reportedly plans to go public through a reverse merger with SRM Entertainment. AA News, Crypto News, TRXBTC, TRXUSD CryptoPotato
