- TRON is a decentralized blockchain founded by Justin Sun in 2017. Its native cryptocurrency is Tronix (TRX).
- Justin Sun has been a central figure in the cryptocurrency industry since launching TRON in 2017.
- Sun has also been a huge advocate for President Doanld Trump and is currently the largest holder of $TRUMP.
- In March 2023, the SEC filed a lawsuit against Sun and three of his companies alleging Unregistered Securities Offerings, Market Manipulation (Wash Trading) and Undisclosed Celebrity Endorsements.
- Sun’s federal probe has now come to an indefinite pause and Tron has now reverse merged with Nasdaq-listed firm.
Crypto platform Tron has reportedly secured a reverse merger with a Nasdaq-listed firm and is set to become a publicly traded company in the United States.
The move is reported following a pause in a U.S. federal probe into its founder and entrepreneur Justin Sun. Reports say Tron entered into a definitive agreement with an unnamed U.S.listed shell company.
The reverse merger is expected to be finalized later this year, pending regulatory and shareholder approval.
Meanwhile, Tron will go public without the initial public offering (IPO) process.
Known as one of the largest decentralized platforms, Tron gained popularity for its high throughput network and the BitTorrent acquisition.
The new merger signals a new chapter for Tron, founded in 2017 by tech entrepreneur Justin Sun.
Regulatory Shift?
The public listing of Tron comes amid a shifting regulatory landscape in the U.S. toward digital assets, especially with the re-election of president Donald Trump who has positioned himself as a cryptofriendly administration.
Meanwhile, investigations into Justin Sun by the U.S. Securities and Exchange Commission (SEC) and other agencies were reportedly paused earlier this year.
While details of the paused investigations remain limited, it is safe to say this ‘pause’ has cleared a significant hurdle for the company’s ambitions to tap into U.S. capital markets.
Further, sources say the decision was influenced by Tron’s increasing efforts to comply with international regulatory standards and transparency requirements.
However, legal analysts note that a reverse merger route offers a quicker and often less scrutinized path to public markets compared to a traditional IPO.
Market analysts have expressed cautious optimism about the deal.
Dana Redding, a blockchain analyst said, “If completed successfully, Tron’s listing could inject fresh legitimacy into the crypto sector, especially after years of scrutiny and volatility”.
Should the deal become successful, Tron will become one of the few major crypto platforms to be publicly traded in the United States.
Justin Sun is yet to issue a public statement, despite insiders suggesting that he remains closely involved in the transaction and sees the merger as a “transformational step” for the Tron ecosystem.
Sun has remained a controversial figure in the industry. He is the largest investor in World Liberty Financial with a $75 million investment and tops the $TRUMP Token Leaderboard with 1.17 Billion Tokens.
Additionally there are speculations in the industry that Eric Trump may lead Tron. Eric Trump however has denied any involvement with Tron. Eric took to X to say, “he is a great friend and an icon in the crypto space. That said, I don’t have public involvement.”
