According to Justin Sun, a recent Securities and Exchange Commission (SEC) filing has detailed a $100 million private investment in public equity (PIPE) deal, paid entirely in TRX tokens, giving his father, Weike Sun, board control over SRM Entertainment. The public company is in the process of being renamed Tron Inc. Following the announcement, SRM's stock price dropped 15% to close at $7.73, while the TRX token's price fell 2.5% to $0.27. The deal appoints Weike Sun as chairman and adds other Tron-aligned executives to key committees. According to the Financial Times, the newly structured firm plans to purchase and hold up to $210 million in TRX, adopting a strategy similar to MicroStrategy's approach with Bitcoin. Despite the alignment, Tron DAO is reportedly not a direct party to the transaction.

According to @justinsuntron, a new SEC filing reveals a $100 million private investment in public equity (PIPE) deal, paid entirely in TRX tokens, that gives Justin Sun’s father, Weike Sun, control of SRM Entertainment. The filing shows SRM, which will be renamed Tron Inc., has appointed Weike Sun as chairman and other Tron-affiliated executives to its board. According to the Financial Times, the new Tron Inc. plans to hold up to $210 million in TRX, mirroring MicroStrategy's Bitcoin treasury strategy. For traders, the market reaction was negative, as the listed entity's stock (SRM) dropped 15% to $7.73, and the TRX token fell 2.5% to trade at $0.27 following the announcement.

According to @justinsuntron, a $100 million private investment in public equity (PIPE) deal, paid entirely in Tron's TRX tokens, has given Justin Sun’s father, Weike Sun, board control of SRM Entertainment, a public company being renamed to Tron Inc. A recent SEC filing revealed that Weike Sun was appointed chairman, with other Tron-affiliated executives also joining the board. Despite the deal's structure, Tron DAO strategic adviser Zhihong Liu stated the DAO has no direct investment or formal role. A key strategic move for traders to watch is Tron Inc.'s plan to buy and hold up to $210 million in TRX, mirroring MicroStrategy's Bitcoin treasury strategy, as reported by the Financial Times. Following the news, SRM Entertainment's stock fell 15% to $7.73, while the TRX token declined 2.5% to $0.27.

According to @justinsuntron, a recent Securities and Exchange Commission (SEC) filing details a $100 million private investment in public equity (PIPE) deal, paid entirely in Tron (TRX) tokens, that gives Justin Sun’s father, Weike Sun, control of a publicly traded company. The filing shows that SRM Entertainment is changing its name to Tron Inc., with Weike Sun appointed as chairman. Other Tron-aligned executives have also joined the board. The deal, arranged by Dominari Securities, involved an investment vehicle owned by Weike Sun purchasing preferred stock convertible into 200 million common shares, plus 220 million warrants. The Financial Times reported that the new Tron Inc. plans to buy and hold up to $210 million in TRX, adopting a corporate treasury strategy similar to MicroStrategy's with Bitcoin. Following the news, the TRX token fell 2.5% to $0.27, and SRM stock dropped 15% to $7.73.

According to @justinsuntron, a $100 million private investment in public equity (PIPE) deal, paid entirely in Tron's TRX tokens, has given Justin Sun’s father, Weike Sun, board control of SRM Entertainment. An SEC filing confirms Weike Sun was named chairman, with Tron-aligned advisors Zhihong Liu and Zi Yang also joining the board. The public company, which is in the process of being renamed Tron Inc., plans to purchase and hold up to $210 million worth of TRX, similar to MicroStrategy's bitcoin treasury strategy, according to the Financial Times. Despite the appointments, Tron DAO advisor Zhihong Liu stated the DAO itself is not formally part of the transaction. Following the news, SRM Entertainment's stock fell 15% to $7.73, and the TRX token price decreased by 2.5% to $0.27.