At Tron’s principal place of business in Winter Park, Florida, there are no apparent signs of Chinese crypto mogul Justin Sun or the $30 billion blockchain that he founded, such as placards, business cards, or even a sign.
Instead, the publicly traded Tron—formerly known as SRM Entertainment—keeps a low profile at Regus, a communal office space in the affluent Orlando suburb, where the firm specialized in designing theme park merchandise and stuffed goods under its previous name.
Two representatives at the office’s front desk told Decrypt on Thursday that even though SRM’s website has gotten a Tron-branded makeover—the company rebranded earlier this month and adopted “TRON” as its ticker symbol—the space is still reserved under SRM.
Tron’s communal office space in Winter Park, Florida. Image: André Beganski/Decrypt
About once a week, someone from Tron comes into the office, they added—where free coffee and a printer that anyone can use are perks for clients.
The plain-looking office building, used by dozens of professionals, including lawyers and real estate brokers, contrasts with the pomp of New York City, where Sun sported a tuxedo to ring the Nasdaq’s opening bell earlier this week and celebrate the company’s rebrand.
“The Nasdaq is just the starting point for our listing,” Sun said on X in Mandarin on Friday. “We aim to become part of that Nasdaq 100 index within three years.”
纳斯达克只是我们上市的起点，英伟达苹果谷歌纳斯达克100指数是我们的目标，我们希望在三年内成为纳斯达克100指数 ，这才是我们追寻的目标！ pic.twitter.com/MwvCwriGyp
— H.E. Justin Sun 🍌 (@justinsuntron) July 25, 2025
The move signaled that Sun’s Tron, after years of regulatory scrutiny, is ready to breathe new life into the middling merchandiser SRM under U.S. President Donald Trump’s crypto-friendly regime. In June, then-SRM unveiled a $100 million equity investment and treasury strategy revolving around Tron’s native token, TRX, with Sun coming on as an advisor.
Tron, the blockchain network, is primarily used for low-cost stablecoin transfers, and the network hosts $82 billion worth of stablecoins, a significant slice of the $265 billion sector, data from DefiLlama shows. Tron’s native cryptocurrency TRX was recently trading hands around $0.31, a 130% increase over the past year, according to crypto data provider CoinGecko.
It’s unclear, however, if Tron—the Nasdaq-listed company formerly known as SRM—is stepping away from the original business entirely. On Thursday, a Tron-branded photo advertising a “Della Dolphin” sippy cup—it’s BPA-free and safe for kids—was posted to its Instagram account, which still uses the SRM brand.
Year-to-date, Tron’s stock price has rallied more than 1,300% to $9.23, according to Yahoo Finance.
Decrypt has reached out to Nasdaq and Regus for comment. Tron did not respond to requests for comment from Decrypt.
Inside the Regus office that Tron calls home. Image: André Beganski/Decrypt
Biden-era regulators scrutinized Sun’s blockchain venture not too long ago. In 2023, the Securities and Exchange Commission charged the Tron Foundation and Sun with fraud and market manipulation. In February, the parties asked a federal judge to pause the case as they work toward a “potential resolution,” mirroring the regulator’s retreat from other high-profile crypto cases.
Sun acquired a $75 million stake in Trump-backed crypto project World Liberty Financial earlier this year, and he was recognized as the largest holder of the president’s meme coin at a black-tie gala two months ago, hosted at Trump’s golf club in Virginia.
Despite Sun’s ties to Trump-backed crypto projects, Eric Trump denied claims that he was involved in Tron’s Nasdaq debut. He sits on the board of directors of Dominari Securities, the investment bank that brokered the deal with then-SRM.
As a corporate vessel for Tron’s U.S.-focused push, it’s unclear whether Sun will ever visit Trump’s home state to see where employees designed toys and products inspired by fictional characters. But earlier this week, he seemed excited to represent the company in The Big Apple.
“I’m thrilled to be listed in New York,” Sun said on X, posting a photo of him standing next to New York City Mayor Eric Adams. “It’s my favorite city.”
