Eric Trump has publicly refuted claims of holding any executive position within Tron Inc., amid preparations for the blockchain platform’s significant $210 million reverse merger with SRM Entertainment. The deal aims to transform Tron into a Nasdaq-listed company.
While clarifying his lack of formal involvement, Trump expressed continued personal support for Tron founder Justin Sun and the platform’s mission ahead of the landmark transaction. The merger arrangement stipulates that SRM Entertainment will acquire assets including $100 million worth of Tron’s native cryptocurrency, TRX.
The announcement of the merger spurred a 5% increase in the price of TRX, signaling heightened investor confidence in Tron’s ambition to expand within the U.S. market. Currently, Tron sustains a user base exceeding 310 million accounts and facilitates daily transaction volumes surpassing $20 billion.
A notable innovation arising from the deal is the adoption of TRX tokens as a core treasury asset by the merging entity, diverging from conventional holdings like Bitcoin. This novel corporate treasury model could potentially influence financial strategies across the broader cryptocurrency industry.