Eric Trump, a son of US President Donald Trump, has denied reports that he will be involved in blockchain network Trons intent to pursue a public offering in the United States, though he had positive things to say about the projects founder, Justin Sun.Im the biggest fan of Tron, Trump said on social media, adding that he admires Sun and considers him a great friend and icon in the crypto space.
However, he denied an earlier report by the Financial Times claiming that he would be part of Suns new public venture.Source: Eric TrumpAs Cointelegraph reported, Tron plans to go public in the United States via a reverse merger with SRM Entertainment, a Nasdaq-listed souvenir and merchandise company.
As part of the deal, SRM will rebrand as Tron Inc.
and establish a substantial Tron (TRX) treasury through a $100 million private equity investment.Tron is the worlds ninth-largest blockchain project, with a market capitalization of $26.5 billion, according to CoinMarketCap.TRX is trading at approximately $0.28, following a modest increase on Monday.
Source: CointelegraphEric Trump and Justin Suns business connection dates back to at least November, when the Tron founder became World Liberty Financials largest investor by purchasing $30 million worth of WLFI tokens.Related: VC Roundup: Twenty One investors inject $100M into BTC treasury, Jump Crypto backs SecuritizeEric Trump has been a key inspiration behind his familys crypto platform, World Liberty Financial, which gained prominence ahead of the US presidential election.World Liberty has proven to be a significant financial windfall for the Trump family, with recent regulatory filings revealing that the president earned $57.4 million from the project through the sale of its WLFI token.Filings with the US Office of Government Ethics reveal US President Donald Trumps proceeds from World Liberty Financial.
Source: DocumentCloudThe Trump family expanded its crypto ambitions earlier this year by launching American Bitcoin, a digital asset mining company set to go public through a merger with Dryphon Digital Mining.
Since its launch in April, the company has accumulated 215 Bitcoin (BTC), currently valued at approximately $23.3 million.
American Bitcoins ballooning BTC stockpile is hardly surprising, given that Eric Trump has described Bitcoin as a global arms race.Everybody in the world is trying to hoard Bitcoin right now.
Everybody.
I hear it from sovereign wealth funds.
I hear it from the wealthiest families.
I hear from the biggest companies, Trump said during a panel at the Consensus conference in Toronto, Canada, in May.Trump is under increasing criticism from Congress regarding his familys business ventures in the crypto industry.Magazine: Ripple says SEC lawsuit over, Trump at DAS, and more: Hodlers Digest, March 16 22