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Justin Sun, founder of the Blockchain Tron platform, poses for a photograph in Hong Kong, on May 8, 2020.
Calvin Sit | Bloomberg | Getty images
The Cryptographic Society of Justin Sun, Tron, should arrive on the public market thanks to an inverted merger with a manufacturer of personalized toys and memories for the largest theme parks in the world.
SRM entertainmenta provider of goods classified by the NASDAQ which has license agreements with DisneyUniversal Studios (belonging to CNBC Parent NBC Universal) and Seaworld, Said Monday that he will collect $ 100 million in a private investor to buy Tron Tokens, and will issue the privileged actions and mandates that appreciate the agreement up to $ 210 million.
SRM said that she was planning to rename herself as an Inc. Tron, with Sun joining an advisor. SRM shares climbed 460% after the announcement, which increased the company’s market capitalization to around 140 million dollars.
For Sun, who has already been accused of securities fraud by the dry, the announcement is the last boon of what has been a spectacular reversal of fortune since the start of President Donald Trump Second term.
A judicial in February, showed that Sun and the SEC explored a resolution to Case of civil fraudAs part of the implementation of implementing measures by the Trump administration taken during the four years of mandate by President Joe Biden.
This file came after the sun in January, increased its participation in Tokens issued by the Crypto Bank World Liberty Financial of the Trump family at $ 75 million. Sun, who was born in China, then bought the token of the president of the president, winning a competition for Top holdersand increasing his participation in Asset-And tokens at least $ 97 million.
SRM’s offer was organized by Dominari Securities, an investment bank of boutique whose parent company recently attracted attention to its Links with the Trump family. Donald Trump Jr. and Eric Trump joined Dominari Holdings Advisory Council Earlier this year, shortly before the company’s share price ended.
SRM said it will put the tron token, will distribute dividends and strengthen the value of long -term shareholders thanks to exposure to digital assets, imitating a bitcoin purchase tactic that Michael Saylor popularized to Strategy.
Tron is a blockchain network which is considered a rival for Solana. He claims to offer low transaction costs with the possibility of treating a large number of transactions per second and is intended to move stablescoins and other digital assets.
