On June 17, Beijing time June 16 evening, the crypto market received a heavyweight news: Justin Sun's TRON project will be listed on the US stock market through a reverse merger with Nasdaq-listed company SRM Entertainment. The Financial Times reported that the transaction was orchestrated by Dominari Securities, closely associated with the Trump family. SRM subsequently announced that it has signed a $100 million investment agreement with private investors and initiated a treasury configuration strategy around TRX.
After the announcement, SRM's stock price surged over 900% intraday and ultimately closed up 526%, becoming the biggest dark horse in the US stock market that day. TRX also simultaneously rose, with a 24-hour increase of over 2.5%.
More notably, SRM will be renamed Tron Inc, with Justin Sun serving as the company's advisor, marking TRON's official entry into Wall Street. The total transaction amount is estimated to be as high as $210 million, considered a landmark event of crypto projects integrating with traditional capital markets.
Riding the policy tailwind of Trump's "embracing crypto" after his election, Justin Sun successfully "counterattacked", with his collaboration with Trump's second son Eric Trump continuously deepening. SRM's explosion also provided ordinary investors with short-term layout opportunities.
On BiyaPay, users can trade US stocks in real-time using USDT without applying for offshore accounts, capturing market opportunities for hot concept stocks like SRM, with quick and safe fund entry.
Grasp the policy direction, capture market explosive points, all on BiyaPay. Invest in US stocks with USDT, and never miss the next opportunity.
