Justin Sun is back in the spotlightand this time, he's bringing Tron public in a way that could shake up the crypto investment scene. Tron is merging with SRM Entertainment (NASDAQ:SRM), a thinly traded Nasdaq shell, in a reverse takeover backed by Dominari Securities. The deal includes a $210 million injection of Tron tokens and positions the new entitysoon to be rebranded Tron Incto operate like a crypto-holding vehicle in the mold of MicroStrategy. Eric Trump is reportedly stepping into a leadership role, adding another layer of political weight to a crypto revival gaining steam under President Trump's second-term deregulatory stance.

• Warning! GuruFocus has detected 6 Warning Signs with SRM.

SRM shares exploded 280% Monday morning after the news broke. The timing isn't random. Earlier this year, the SEC quietly paused its case against Sun and his companies, which were accused in 2023 of selling unregistered securities and manipulating markets. Now, with the regulatory heat turned down and the Trump administration openly pro-crypto, Sun is leaning in. He recently dropped $75 million into World Liberty Financiala Trump family crypto venture that just launched stablecoins on the Tron blockchainand even joined a $Trump memecoin holder banquet with the president at Trump National Golf Club in Virginia. The narrative is shifting fast, and Sun is placing his bets accordingly.

Behind the scenes, Dominari has been busy. The firm operates out of Trump Tower and saw its parent company's stock spike 580% after Donald Trump Jr. and Eric Trump joined the board. It previously backed American Bitcoina miner tied to Trump allies that rebranded in March in a joint venture with Hut 8. It's also helped raise funds for SpaceX and xAI, adding Musk-world exposure to its dealmaking resume. With Tron's reverse merger now on the table, this isn't just a crypto listingit could be the start of a broader, politically fueled blockchain push into public markets.

This article first appeared on GuruFocus.