Tron, the blockchain founded by billionaire Justin Sun, is looking to go public in the U.S., the Financial Times reported on Monday.

Tron will go public via a reverse merger with Nasdaq-listed SRM Entertainment, the report said, citing people familiar with the matter. The deal is being managed by Dominari Securities, an investment firm with ties to the Trump family, the report added.

The new firm will buy and hold Tron's TRX TRX, similar to Michael Saylor-led bitcoin BTC holding firm Strategy (MSTR).

TRX jumped nearly 4% to 28 cents after the FT report was published.

Tron did not immediately respond to CoinDesk's request for comment.

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