On July 28, the newly created company Justin Sun’s Tron Inc. has filed an application with the US Securities and Exchange Commission (SEC) to register securities worth up to $1 billion. The company also received the Nasdaq TRON ticker symbol on July 17. Tron Inc. will act as a Nasdaq-listed treasury for TRX, the native tokens of the Tron network.
According to the filing, it is the public company with the largest TRON (TRX) token holdings on its balance sheet of — over 365 million TRX.
Tron Inc. was formed through a reverse merger with SRM Entertainment about two weeks ago. The deal included a $100 million investment from a private investor in the form of TRX tokens. Thanks to the registration statement — a regulatory filing with the SEC that allows a company to register securities in advance — the firm can now sell up to $1 billion in mixed securities (common stock, preferred stock, debt instruments, and warrants).
Justin Sun said that its goal is to get into the Nasdaq-100 index, which includes Nvidia, Apple, and Google, within three years.
Michael Sailor’s strategy started the trend of crypto hoarding through his bitcoin investment strategy.
Source: SEC
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