Eric Trump, the Executive Vice President of the Trump Organization, has denied claims that he is involved in a Tron (TRX) deal to go public. In an X post, Eric noted that the information circulating the Internet claiming that he and Donald Trump Jr are involved in a reverse merger deal between Tron and SRM Entertainment is inaccurate.
Nonetheless, Eric commended Sun for his contribution towards the overall success of the cryptocurrency market. Since President Donald Trump took office of the POTUS, Sun has made significant financial and technical contributions to Trump-backed crypto projects, including the World Liberty Financial (WLFI).
As a result, the Tron project has made a notable comeback in the United States market. Already, the U.S. SEC filed a joint motion with Sun to pause the ongoing lawsuit.
Closer Look at the Deal Between Tron and SRM Entertainment
On Monday, SRM Entertainment Inc. (NASDAQ: SRM) announced that it entered into a securities purchase agreement with an investor for $100 million to buy TRX tokens for its treasury management. According to the announcement, SRM Entertainment will sell its shares to initiate the TRX deal.
As part of the agreement, Sun will join SRM Entertainment as an advisor. Furthermore, the company intends to initiate TRX staking to earn more revenue passively and securely for its shareholders.
“As blockchain technology gains wider adoption globally, TRON has become the industry leader for cross-border settlement in US dollar stablecoin. We are excited to invest in the future of the world’s next-generation financial infrastructure,” Rich Miller, Chief Executive Officer of SRM, noted.
