Latest news with #TRON
Coin Geek
6 hours ago
- Business
- Coin Geek
TRON eyes IPO: Justin Sun bets on crypto treasury strategy
Getting your Trinity Audio player ready... On the heels of Circle's relatively successful initial public offering (IPO), it didn't take long for another crypto company to step up to the plate and announce its plans to go public on the United States stock market. This time around, Justin Sun, the founder of TRON, announced he would be taking TRON public through a reverse merger with Nasdaq-listed SRM Entertainment ($SRM) (NASDAQ: SRM). Once the deal is complete, SRM Entertainment will change its name to TRON, and its business model/strategy will switch to the relatively new, increasingly popular business model of owning and operating a crypto treasury. Once finalized, the company will buy and hold the TRON token. To kickstart the treasury, the newly formed company plans to issue 100,000 shares of its Series B Convertible Preferred Stock, which can be converted into 200 million shares of common stock at 50 cents per share. Additionally, the company will issue 220 million warrants, allowing SRM to acquire up to 220 million shares of common stock at an exercise price of 50 cents per share. If fully exercised, the company will take in $210 million which they will then use to buy TRON and begin building their treasury. Why public companies are racing to build crypto treasuries Recently, it has become increasingly popular for publicly traded companies to build crypto treasuries. Trump Media & Technology Group (NASDAQ: DJT), GameStop (NASDAQ: GME), and, of course, MicroStrategy (NASDAQ: MSTR) have all either announced that they are beginning to build or continuing to top up their Bitcoin treasuries. There are various reasons a company might want to build a crypto treasury. Some argue it's a hedge against inflation. Others say it aligns with their company's values of being tech-forward and innovative. But regardless of what the companies are telling the public, no company would be doing this if it didn't believe it would be good for its bottom line. The obvious economic benefit of a crypto treasury is that the price of the cryptocurrency it holds could appreciate, increasing its overall value and making the company richer. But so far, there has been a secondary effect that has been even more beneficial than crypto-price appreciation. When companies announce they're building or topping up crypto treasuries, they start getting media attention. Once the headlines roll in, the company's stock price usually climbs. Most of the time, the price of the crypto asset they're buying increases too. Although both the stock and the crypto asset rise, historically this strategy, and the media attention that comes with it, has been more beneficial for the company's stock price than it has for the underlying digital asset itself. TRON, which hasn't completed its merger with SRM yet, is a perfect example. When the company announced its plans to merge and build a TRON treasury, the price of $SRM increased by over 500%, while the price of the TRON token increased by just 3.4%. Why crypto treasuries are a double-edged sword Admittedly, these crypto treasuries are a unique feat of financial engineering. The companies that own and operate them have found a way to pump their bags, and essentially double-dip on revenue generation since their stock price and crypto treasury rise when they announce that they're adding to their treasury. But we haven't really seen this play out in the long term; just like there are supporters of the crypto treasury model, there are critics who have been scrutinizing the strategy since August 2020, when MicroStrategy became the first publicly traded company to add cryptocurrency to its corporate treasury. Cryptocurrencies are notorious for their volatility. When a publicly traded company builds a crypto treasury on top of its other business activities (if it even has other business activities), shareholders are suddenly exposed to cryptocurrency price swings. Depending on the size of the crypto treasury, this can put companies at significant risk. When times are good, they'll thrive. But when the market takes a downturn, it's possible for these companies to incur substantial losses that harm the financial health of the business, all thanks to their crypto treasury. For instance, earlier this year, MicroStrategy reported an unrealized loss of $5.91 billion due to a drop in BTC's price. If a smaller company follows this strategy and gets caught on the wrong side of a price swing, it could result in them having to close shop. All of this raises the question: Are crypto treasuries sustainable on a long enough time horizon? The answer is, we don't know yet. The oldest crypto treasury from a publicly traded company, MicroStrategy, is approaching five years old. Although it's previously reported unrealized losses, the treasury still exists, it's still being topped up, and MicroStrategy is still afloat. At the same time, the economics of a company whose sole 'product' is a crypto treasury don't look great. When a company isn't creating anything of value, anything that solves a real problem in the world, and therefore isn't generating customer demand or building a reliable customer base, the entire business model becomes shaky. The 'value' of the company is reduced to one speculative idea: that it'll be worth more tomorrow because the crypto they're holding is expected to go up. These flawed economics put companies with crypto treasuries—especially those whose only product is the treasury itself—at extreme risk. They are essentially living and dying by the price of the crypto they're accumulating. Tesla sold its BTC; what happens when others do? One thing we've seen very little of is companies expressing their exit strategy. Every company undoubtedly views its crypto treasury strategy as profitable—but unless they one day exit the position, that profit will never be realized. Only one publicly traded company has explicitly accumulated Bitcoin for their crypto treasury and then subsequently sold it for a realized revenue. On March 31, 2021, Tesla (NASDAQ: TSLA) sold ~4,320 BTC, representing roughly 10% of its holdings, generating about $272 million, and then, a little more than one year later, in July of 2022, Tesla sold approximately 75% of its remaining BTC and argued that they did this to prove the liquidity of BTC as an alternative to holding cash, essentially testing that BTC was a fully functional treasury asset. Whatever the reason may be, you'd imagine that companies are stockpiling crypto to one day sell it, which in and of itself could unwind the entire financial engineering play. If a company sells a large chunk of its treasury, that could cause the price of the crypto asset to fall, which then reduces the overall value of the remaining treasury. That decline could impact the company's perceived value and hurt the stock price, triggering a negative spiral that reverses all the gains that made the strategy so attractive in the first place. There still isn't enough data to know how this plays out. Only a handful of companies have tried the publicly traded crypto treasury model, and even fewer have liquidated their positions, which makes it hard, and arguably too early, to call the crypto treasury a winning strategy. As more time passes and the price of BTC continues to move, we'll find out whether this strategy truly is a feat of financial engineering or if it's just another buzzword financial gimmick. Watch: Teranode & the Web3 world with edge-to-edge electronic value system title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Newsweek
a day ago
- Business
- Newsweek
Barron Trump's Crypto Investor Nears Cash Bonanza
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Crypto billionaire Justin Sun is taking his company, TRON, public on the U.S. market, in a deal worth as much as $210 million. The top Trump investor, who has a $75-million stake in the first family's crypto bank World Liberty Financial, announced the reverse merger with merchandise supplier SRM Entertainment on Monday. Newsweek has contacted SRM Entertainment via email for comment. The Context Sun has been a vocal backer of the Trump administration's cryptocurrency embrace, and has invested heavily in World Liberty Financial, the Trump family's crypto venture that lists Barron Trump as one of its ambassadors, alongside Eric and Donald Jr, despite the age difference of almost three decades between the half-brothers. What To Know President Donald Trump has long touted Barron, his youngest child, as the family's cryptocurrency expert, saying: "He knows so much about this" during an interview last year. Barron Trump has reportedly earned nearly $40 million from cryptocurrency ventures and has multiple "wallets," a kind of portfolio used to manage blockchain transactions. This would make him the richest of any of Trump's sons at the age of 19. Barron's position at World Liberty Financial, where he ranks the same as other members of his family, is his first big foray into the business world. Barron is currently enrolled in New York University's Stern School of Business, where fees set students back $99,000 per year, which indicates he intends to follow his father into the same business background which made the Trump name. The merger appears to be taking formalizing ties between Sun and the Trump family one step further, with the Financial Times reporting that Eric Trump is expected to take up a role in the new company, which will rebrand to Tron Inc. However, in statement on X, formerly Twitter, Eric Trump rejected the report, saying: "I'm the biggest fan of Tron and love Justin Sun—he is a great friend and an icon in the crypto space. That said, the below is inaccurate—I don't have public involvement." Shortly after the merger was reported, shares in SRM Entertainment, a Nasdaq-listed company, soared by as high as 647 percent. The company's market cap was $146.24 million at time of writing. CEO of TRON Justin Sun attends Consensus 2019 at the Hilton Midtown on May 15, 2019, in New York City. CEO of TRON Justin Sun attends Consensus 2019 at the Hilton Midtown on May 15, 2019, in New York City. Getty Images The merger will involve TRON injecting $210 million of crypto assets into the newly-formed Tron Inc, with SRM's statement on the deal reading: "The strategic investment, valued at $210,000,000 upon full exercise of the warrants, enables SRM to build a substantial TRON Treasury Strategy. "This transaction aligns with the company's vision of creating long-term value for shareholders by capitalizing on the global adoption of blockchain and digital innovation. As a part of its TRON Treasury Strategy, the company intends to implement a dividend policy upon the successful implementation of the TRX staking program." TRON was founded in 2017 to manage the blockchain of the same name. Sun, the company's founder, was previously charged with securities fraud by the SEC, before the charges were dropped after Trump entered office in January. A blockchain is a digital, decentralized, and distributed ledger, like a spreadsheet, that records transactions across a number of computers. What People Are Saying Justin Sun, founder of TRON, said in a statement on the merger: "Stablecoins and blockchain are revolutionizing global payments, enabling faster, cheaper, and more transparent transactions. "With over 310 million international user accounts and average daily transactions YTD [year to date] exceeding $20 billion, TRON strives to be the protocol of choice for onchain settlement serving the mass populations worldwide." Rich Miller, SRM Entertainment's CEO, said: "As blockchain technology gains wider adoption globally, TRON has become the industry leader for cross-border settlement in U.S. dollar stablecoin. We are excited to invest into the future of the world's next generation financial infrastructure." What Happens Next The reverse merger is set to take place over the next few months.
Yahoo
2 days ago
- Entertainment
- Yahoo
TRON: Catalyst (PC) Review
When I first tried TRON: Catalyst, I was pretty happy with what I had experienced. Although my initial preview was only a vertical slice within the city of Vertical Slice, the game introduced enough good ideas that I was eager to get my hands on a much more extensive play session. My time with TRON: Catalyst has been somewhat of a mixed experience. On the one hand, I really admire what both Bithell and the game itself are trying to do here. However, the game really needed to iron out some kinks to create a really amazing game, and it doesn't really look like they have. I talked about it a bit during my preview, but I'll reiterate it here. Players take on the role of Exo—a simple Courier program who is caught in a massive explosion during a routine delivery. Little did she know, the explosion was caused by a Glitch Catalyst, which distorts her code and gives her the ability to rewind time back to key loop points, allowing her to use abilities and knowledge gained to outsmart and outmaneuver her opponents. This sets off a chain of events that will lead to who decides the fate of Vertical Slice city as Exo fights against Core—the city's malevolent rulers—and a ruthless program named Conn, who pursues her throughout the Arq Grid. While I mentioned how much I liked how the game weaved its gameplay concepts into its narrative, one thing I didn't mention was how much I appreciate the game's protagonist. Since TRON: Catalyst is set somewhere before the events of TRON: Legacy, Exo isn't just a regular program, but an Iso—Isomoprhic Algorithms that were created from nothing in Flynn's Grid. This allows not just the story to maintain the themes of race politics that were present in the film, but it also gives our protagonist a lot more agency and identity. She has the freedom to be whatever she wants to be, and allowing her to manipulate not just her own code, but the systems around her gives the game a lot of depth and nuance that isn't made immediately present in the writing. Not only that, I really liked how TRON: Catalyst is somewhat of a sequel to TRON: Identity, as characters and factions that were established in that game find their way into this one. Gameplay is where TRON: Catalyst leaves something to be desired. Initially, I said the game was 'Surprisingly simple,' and honestly, I feel that works both for and against the game. On the one hand, it makes it so it's not hard to get into, and gives players a lot of freedom to get good at it. On the other hand, it's never particularly challenging or as cool as something with the TRON license could be. The biggest place this exists is in the combat. While it works well enough, giving players a pretty straightforward way to engage enemies both with their Discs and in Lightcycle chases, it always feels a little basic and by the numbers. It doesn't have the sense of fluidity or cool that was present in TRON: Evolution. When it works, it can be pretty enjoyable, but I think longtime TRON fans like myself might be left wanting for a bit more. Not only that, but since TRON: Catalyst doesn't reward players with traditional experience—like I mentioned in my preview—it feels like some pretty basic moves like reflecting enemy Discs are locked behind a fairly restrictive wall. And while you do get a lot of cool new abilities as the story progresses, it could've made accessing the more basic ones a bit easier. Also, and this might just be a me thing, the game really could've done with a better trajectory line, particularly for bouncing your Disc off walls to hit enemies. This is why TRON: Catalyst probably exists best as a smaller experience better suited to something like the Nintendo Switch. It creates the sense of a world that is technically small but feels big, and it's so rich with TRON lore and its world feels so genuinely realized that it's definitely worth experiencing, but in a more relaxed, second-screen kind of way. Where TRON: Catalyst really stands out is in its visuals. The sleek, techno-cool aesthetic of TRON: Legacy is captured in an incredibly detailed and authentic way, and you can see the love and care put into the environment in every area you walk into. The music is appropriately matched. Dan Le Sac did an excellent job capturing the vibe of Daft Punk's soundtrack for TRON: Legacy, but putting his own unique touch on it for something that sounds genuinely his but uniquely TRON. Honestly, I know this review probably sounded more negative than I wanted it to, but I think there is a lot to like about TRON: Catalyst. Like I said in my preview, Bithell stepped a bit outside their comfort zone and took a big chance, and for the most part, I think it paid off. While I wished it had a little bit more, I really loved what was there, and I think a lot of TRON fans will too.
Coin Geek
3 days ago
- Business
- Coin Geek
Sun taking TRON public in US, Trump family denies involvement
Getting your Trinity Audio player ready... Justin Sun is taking his TRON blockchain public in the U.S., while growing ties to the Trump family could complicate passage of U.S. stablecoin legislation. On June 16, the Financial Times broke the news that the TRON blockchain, founded by Justin Sun, plans to go public on the Nasdaq via a reverse merger with SRM Entertainment, a struggling theme-park merchandise supplier. The report was quickly confirmed by SRM, which announced that it had reached a deal with 'a private investor' who will take a $100 million equity investment in SRM. As a result, SRM will rebrand as Tron Inc and Sun (aka the 'investor') has been named an advisor to the new entity. The deal will also see SRM issue 100,000 new shares of its Series B Convertible Preferred Stock, which will be convertible to 200 million shares of SRM's common stock. There will also be 220 million warrants to acquire common shares at $0.50 apiece, bringing the total investment to $210 million. SRM plans to use the funds to 'initiate a TRON Token (TRX) Treasury Strategy.' Like many of the firms that have launched 'treasury' strategies in recent months, SRM was a loss-making company with little hope of pulling out of its financial spiral. In April, SRM was granted a six-month reprieve of Nasdaq's October 2024 threat to delist the stock due to its inability to stay above the $1 minimum bid price. News of the Sun deal appears to have leaked late last week, as SRM's share price—which had been mired around $0.60 for most of June—more than doubled by June 13. The shares closed Monday around $9.19, a modest 534% rise for the day. The deal was brokered by Dominari Securities, a Nasdaq-listed firm with a colorful history that's based out of Trump Tower in Manhattan and added President Trump's sons, Eric and Donald Trump Jr., to its list of advisors in February. Dominari's share price, which was struggling to stay above $1 at the time, shot up over $12. Each brother received 750,000 Dominari shares at the time they joined, stakes that are currently worth $3.75 million apiece. Dominari also supplied the shell company that morphed into the American Bitcoin Corp (ABTC) block reward mining venture the Trumps launched this spring with miner Hut 8 (NASDAQ: HUT). The FT reported that Eric Trump was expected to take a role as advisor to Tron Inc. but Eric tweeted Monday that 'I'm the biggest fan of Tron and love @justinsuntron – he is a great friend and an icon in the crypto space. That said the [FT's claim] is inaccurate – I don't have public involvement.' (The word 'public' may be doing some heavy lifting there.) Regardless, Sun continues to deepen his ties to the Trump family's crypto ventures, which started last year with Sun buying $75 million worth of WLFI, the governance token of the Trump-controlled decentralized finance (DeFi) project World Liberty Financial (WLF). WLF subsequently appointed Sun as an advisor and both Eric and Don Jr. have praised Sun via their personal X accounts. Sun later bought more than $20 million worth of the $TRUMP memecoin that was issued by the president just days before his inauguration in January. Sun's status as a $TRUMP whale granted him access to last month's gala dinner at a Trump-owned golf course for the top 220 $TRUMP holders. It wasn't that long ago that Sun didn't dare set foot on U.S. soil, partly because of his legal difficulties with the Securities and Exchange Commission (SEC) but also over concerns that the Department of Justice (DOJ) might be waiting with unsealed criminal charges. But the SEC has since mothballed its civil complaint, and the DOJ is under new management, leaving Sun free to come and go as he pleases. Following the SRM announcement—but before Eric's denial of having any role in the deal—Rep. Sean Casten (D-IL) tweeted that '[t]he crypto industry would have a lot more credibility if they called out growing number of criminals who seem to really like their toys. Including the Trump family.' A GENIUS move? Sun was quoted in the SRM release saying 'stablecoins and blockchain are revolutionizing global payments.' SRM CEO Rich Miller praised TRON as 'the industry leader for cross border settlement in US dollar stablecoin.' For the record, TRON's native token TRX isn't a stablecoin, and while TRON does host the majority ($78.7 billion) of USDT, the market-leading dollar-denominated stablecoin issued by Tether, Sun has not been shy about promoting USD1, the stablecoin launched by Trump's WLF this spring. TRON recently started to mint USD1, and the Sun-linked HTX (formerly Huobi) became the first digital asset exchange to list USD1 as a trading option in May. USD1's market cap has been stuck around $2.1 billion for a while now, but could that be about to change? It will be interesting to see whether Sun's new deal might impact Tuesday's Senate floor vote on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. GENIUS passed some procedural votes with a significant number of Dems joining their Republican colleagues, but the publicity surrounding yet another Sun/Trump tie-up—Eric's denial notwithstanding—could cause some of these pro-crypto Dems to rethink their support when it comes to the final vote. It brings to mind last week's Decrypt article, in which an unidentified crypto lobbyist griped that the Trump family and its crypto venture partners 'hate us. They announce a new product every time there's a key vote' on legislation in Congress. Back to the top ↑ Trump's next filing should be a doozy On June 15, the Financial Times reported on a June 13 filing with the U.S. Office of Government Ethics detailing the president's 2024 income and assets. The filing lists nearly $57.4 million derived from Trump's WLF revenue, as well as his control of 15.75 billion WLFI (out of a total supply of 100 billion). Trump earned $1.1 million via the sale of branded non-fungible tokens (NFTs), while Trump's wife, Melania, earned nearly $217,000 from her own NFT collection. The filing also shows Trump holds between $1 million and $5 million in the Ethereum network's native ETH token (likely earned via his four different NFT collections). The filing only details income/assets from 2024, meaning it lacks WLF contributions from this year. Nor does it include the over $400 million in fees from $TRUMP memecoin sales, contributions from the ABTC mining venture, or the crypto activities of his Trump Media & Technology Group (TMTG) (NASDAQ: DJT). Speaking of TMTG, the U.S. SEC gave its stamp of approval last week to the company's 'BTC treasury' strategy, aka raising $2.4 billion to buy BTC and give investors a reason to buy the company's shares. TMTG generates little revenue (less than $1 million in the first quarter of 2025) from its actual business operations, which include the Truth Social platform. TMTG's long-term plan could see it raise up to $12 billion to fund additional BTC purchases at some future date. But investors seem unimpressed, as TMTG opened Monday's trading at $19.52, less than half its $43 peak in January. The shares continued their downward trajectory on Monday, closing out the day at $18.67 (-4.35%). On June 16, TMTG filed a new application for a Truth Social Bitcoin and Ethereum ETF (exchange-traded fund). The precise makeup of the new ETF has yet to be determined but 'is initially expected to approximate a three-to-one ratio of the value' of BTC to the value of the ETH it holds. TMTG previously announced plans to issue multiple crypto-focused ETFs and filed an application with the SEC earlier this month to launch the Truth Social Bitcoin ETF. The tokens in TMTG's ETFs will be custodied by Foris DAX Trust Co, an offshoot of the digital asset exchange. Back to the top ↑ Trump campaign 'planted crypto flag' to attract minority voters At last week's State of Crypto Summit in New York presented by the Coinbase (NASDAQ: COIN) exchange, President Trump sent a pre-recorded video to address those in attendance. To no one's surprise, Trump's talk consisted primarily of listing his efforts to loosen crypto regulations and reminding everyone how much worse off they'd be without him in their corner. Also appearing at the summit (in person) was Chris LaCivita, who co-managed the president's 2024 election campaign. Coinbase appointed LaCivita to its Global Advisory Council shortly after Trump's inauguration and LaCivita appeared eager to remind Summit attendees of the ties that should bind them to the president's party. LaCivita also revealed that Republicans decided to 'plant our flag on [the crypto] issue' because it offered 'an opportunity to reach a wider swath of voters, and maybe ones that were a little outside of the, uh, of the Republican, you know, box.' Republicans have traditionally struggled to make inroads with minority voters, including Black, Hispanic and Asian groups. But these groups report significantly higher rates of digital asset ownership than white voters, offering a possibility for outreach that the GOP was only too eager to exercise. LaCivita admitted that Republicans 'have waged campaigns that at times have been accused of subtraction' rather than trying to grow their 'tent' beyond their base. Enter crypto, which 'gave us an opportunity to establish common ground with an area and a demographic that we need to expand in in order to be successful.' Back to the top ↑ Tanks, no thanks A couple of days after the Summit, Coinbase was a high-profile sponsor of the president's military parade through the streets of Washington, D.C., with its logo conspicuously displayed behind the president's podium. Coinbase's involvement in the highly polarizing event didn't go down well with crypto community members who saw this public embrace of state power as antithetical to Bitcoin's individualistic origins. Many also saw CEO Brian Armstrong as hypocritical, given his 2020 op-ed that suggested employees who wish to engage in political advocacy might want to find employment elsewhere. The Coinbase execs who've publicly defended the sponsorship have argued that the event was celebrating the Army's 250th birthday, not any one politician or party. However, much of the controversy surrounding the parade was because that day was also the president's 79th birthday. So far, Trump has yet to announce any similar celebrations for the Navy or Marine Corps, both of which celebrate their own 250th birthdays this year, just not on his birthday. Coinbase made a seven-figure contribution to Trump's inauguration committee and has signed on as a 'major sponsor' of America250, the 2026 party for the country's 250th birthday. But the company has repeatedly pointed out that its political efforts are bipartisan and will support politicians of any stripe if they're sufficiently pro-crypto. However, it's precisely this mercenary approach that seems to have unnerved some crypto supporters, the suggestion that a party or politician's overall policies can be disregarded so long as they continue to advance crypto's cause. Back to the top ↑ Watch: Bringing the Metanet to life with Teranode title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
CNBC
4 days ago
- Business
- CNBC
Justin Sun's Tron to go public through reverse merger in deal led by Trump-linked bank
Justin Sun's crypto company Tron is set to hit the public market through a reverse merger with a manufacturer of custom toys and souvenirs for the world's biggest theme parks. SRM Entertainment, a Nasdaq-listed merchandise supplier that has licensing deals with Disney, Universal Studios (owned by CNBC parent NBC Universal) and SeaWorld, said on Monday that it will raise $100 million from a private investor to buy TRON tokens, and will issue preferred shares and warrants that value the deal at up to $210 million. SRM said it plans to rebrand as Tron Inc., with Sun joining as an advisor. Shares of SRM soared 460% after the announcement, lifting the company's market cap to about $140 million. For Sun, who was previously charged with securities fraud by the SEC, the announcement is the latest boon in what has been a dramatic reversal of fortunes since the beginning of President Donald Trump's second term. A court filing in February showed that Sun and the SEC were exploring a resolution to the civil fraud case, as part of the Trump administration's unwinding of enforcement actions taken during President Joe Biden's four years in office. That filing came after Sun, in January, upped his stake in tokens issued by the Trump family's crypto bank World Liberty Financial to $75 million. Sun, who was born in China, later purchased the president's meme token, winning a contest for top holders, and raising his stake in Trump-tied tokens to at least $97 million. SRM's offering was arranged by Dominari Securities, a boutique investment bank whose parent company has recently drawn attention for its ties to the Trump family. Donald Trump Jr. and Eric Trump joined Dominari Holdings' advisory board earlier this year, shortly before the firm's share price surged. SRM said it will stake the TRON token, distribute dividends, and build long-term shareholder value through digital asset exposure, mimicking a bitcoin-buying tactic that Michael Saylor has popularized at Strategy. TRON is a blockchain network that's considered a rival to Solana. It claims to offer low transaction fees with the ability to process a large number of transactions per second, and is intended to move stablecoins and other digital assets.
