Eric Trump Denies Involvement in Tron Public Offering Plans
Eric Trump, a son of US President Donald Trump, has denied reports suggesting his involvement in Tron’s planned initial public offering in the United States through a reverse merger, while expressing strong support for Tron founder Justin Sun.
“I’m the biggest fan of Tron,” the younger Trump wrote on social media, adding, “Justin is truly visionary. I have a lot of respect for him and consider him a ‘great friend and icon in the crypto space.'” This followed the publication of a Financial Times report stating that Trump would join Sun in the new venture.
Trump sought to clarify his position, denying the Financial Times report regarding a “new public venture” tied to Sun and requiring his specific participation.
Tron (TRX), the third-largest cryptocurrency blockchain project, intends to go public in the US via a reverse takeover of SRM Entertainment, a Nasdaq-listed company specializing in souvenir and merchandise. Under the agreement, SRM would rebrand as Tron Inc. and establish a significant treasury of TRX coins through a $100 million private equity contribution from Tron.
According to CoinMarketCap data cited in the original report, Tron has a current market capitalization of $26.5 billion, making it the ninth-largest cryptocurrency blockchain project.
The business relationship between Eric Trump and Justin Sun extends beyond the current Tron talks. In November, Sun acquired $30 million worth of WLFI tokens, becoming the largest investor in World Liberty Financial, the crypto platform established with the expressed support of then-candidate Donald Trump’s family.
Eric Trump’s Crypto Ventures Expand Beyond World Liberty Financial
Eric Trump plays a central role in World Liberty Financial, a platform that has generated substantial revenue reported for his father, reaching $57.4 million via token sales according to recent regulatory disclosures.
In May 2024, Trump family-affiliated entity ERX Energy, not to be confused with Eric Trump’s company, purchased its first Bitcoin block but overall has been noted for its large Bitcoin holdings.
The initiatives spearheaded by the Trump family, notably World Liberty Financial and the plan to establish a publicly traded Bitcoin mining company (likely referring to American Bitcoin), have drawn increasing regulatory scrutiny and substantive criticism from members of the US Congress concerning their operations within the cryptocurrency sphere.
