Eric Trump Joins Crypto Push as Nasdaq Firm Backs $100M TRX Strategy

SRM Entertainment, a Nasdaq-listed firm, has announced a major pivot that includes raising $100 million to establish a treasury of TRX, the native token of the Tron blockchain.

As part of the transformation, the company will be rebranded as Tron Inc., and Eric Trump, son of former U.S. President Donald Trump, is expected to join the new entity in an official capacity.

The funding deal involves a securities purchase agreement with a private investor, under which SRM will issue 100,000 shares of Series B convertible preferred stock. These shares are convertible into 200 million common shares for $0.50 each.

The agreement also includes the issuance of 220 million warrants, which can be exercised at the same price. If fully executed, the transaction could bring the total deal value to around $210 million.

The move is seen as a strategic step by Tron to gain greater recognition as a globally backed cryptocurrency, aligning itself with high-profile political and business figures.

The deal was reportedly facilitated by Dominari Securities, a financial institution linked to the Trump family, further strengthening the political ties behind the transaction.

Once renamed Tron Inc., the company plans to introduce a dividend policy based on its cryptocurrency holdings and asset strategy. In addition to Eric Trump’s anticipated involvement, Tron founder Justin Sun will join the company as an advisor, marking another notable name attached to the initiative.

Following the announcement, shares of SRM surged more than fivefold, hitting $8.80 during Monday’s trading session. Meanwhile, Tron’s TRX token also saw a modest gain of 3%, trading at $0.28 at the time of writing.