Tron Goes Public via “Banana IPO” SPAC Deal

Tron Inc., the blockchain company behind the TRX token and founded by Justin Sun, is going public through a SPAC deal with SRM Entertainment. Dubbed the “Banana IPO,” this merger will list Tron on the NASDAQ while raising $100 million in fresh capital.

Unlike traditional IPOs, SPACs (Special Purpose Acquisition Companies) allow for faster, less bureaucratic entry into public markets. SRM Entertainment will serve as the shell company facilitating the deal, a method increasingly used in the tech and crypto sectors.

The funds raised are expected to accelerate Tron’s DeFi and Web3 infrastructure development. Justin Sun noted that the move aims to “bridge traditional capital markets with decentralized innovation.”

The “Banana” branding—reportedly inspired by Tron’s playful marketing approach—has attracted attention on social media. Despite criticism from some investors wary of crypto-linked SPACs, market response has been cautiously optimistic.

This public listing is seen as a test case for future blockchain companies eyeing mainstream investor capital. If successful, it could set a precedent for how crypto-native firms transition into regulated, public-market entities.

Regulatory scrutiny is expected, especially from the SEC, which has historically been skeptical of token-linked equity models. However, Tron’s legal team claims the listing fully complies with all U.S. securities regulations.