Original | Odaily Planet Daily (@OdailyChina)
Author | Azuma (@azuma_eth)
Justin Sun is making rapid progress on his path to mainstream capital markets.
Tron Enters US Stock Market
On the evening of June 16 Beijing time, the market first leaked news about "Tron's plan to seek listing in the United States". Just as people were puzzled about how a crypto-oriented entity would navigate the compliance listing process, various sources successively disclosed more details.
The Financial Times reported that Tron will achieve listing through a reverse merger with SRM Entertainment, which is already listed on Nasdaq. The transaction is being handled by New York-based investment bank Dominari Securities, which has connections to Donald Trump Jr. and Eric Trump.
Shortly after, SRM Entertainment officially announced that it has signed a $100 million stock investment agreement with a private investor, and will use these funds to launch a treasury strategy around TRX (similar to BTC's treasury strategy). Investment bank Dominari Securities will serve as the exclusive placement agent for this issuance.
According to the agreement terms, SRM Entertainment will issue a total of 100,000 Series B convertible preferred shares (convertible to 200 million common shares at a conversion price of $0.50 per share), and 220 million warrants (which can subscribe to a total of 220 million common shares at an exercise price of $0.50 per share). If all warrants are exercised, the total strategic investment value will reach $210 million, to help SRM Entertainment build a substantial TRX treasury strategy.
Additionally, SRM Entertainment announced that Tron founder Justin Sun has been appointed as a company advisor, and the company plans to rename itself Tron Inc - which confirms the previously circulated "reverse merger listing" rumor.
After the official announcement, both TRX's price and SRM's stock price were boosted. OKX market data shows that after the announcement, TRX briefly surged to 0.295 USDT, reporting at 0.279 USDT at 22:35 on the 16th, with a 24-hour increase of 2.5%; US stock market data shows SRM opened and continued to soar, reporting at $4.935 at 22:35 on the 16th, with a staggering increase of 241.13%.
Justin Sun's "Counterattack into Mainstream"
It's hard to imagine that just two years ago, Justin Sun was facing SEC regulatory attacks. Now, he has become an advisor to Trump family project World Liberty Financial (WLFI), the top donor at a "TRUMP" themed dinner, and Tron is following in Circle's footsteps to become another crypto-native project about to be listed on US stocks.
[The translation continues in the same professional and accurate manner for the entire text, maintaining the specific translations for names, brands, and crypto-related terms as instructed.]
