Justin Sun's father gains control of SRM Entertainment through a $100 million TRX token PIPE transaction

BlockBeats news, on June 18th, according to Coindesk, Justin Sun's father obtained control of listed company SRM Entertainment through a $100 million TRX token private placement (PIPE) transaction, which will be renamed Tron Inc., as revealed in SEC documents. This transaction was arranged by Dominari Securities, which is related to the Trump family. After the transaction was completed, Justin Sun's father became the chairman of the board, and Tron executives joined the audit, compensation, and nomination committees. Although the transaction did not directly involve Tron DAO, it is considered an arrangement led by its core management. The new company plans to emulate MicroStrategy and hold up to $210 million in TRX as strategic assets in the future.