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Justin Sun successfully went public on the backdoor, and SRM was renamed TRON and rose by more than 50% in a single day
SRM Entertainment, a manufacturer of toys and related items in which Justin Sun's father took a stake in 100 million magnesium TRX, will begin trading on 7/17 under TRON's ticker symbol, completing the transition from toy design and entertainment to crypto money management. SRM was spurred by the news yesterday to launch another astonishing offensive, with shares soaring 53% in a single day, while TRX gained more than 3% in 24 hours.
Sun Yuchen goes public through a shell company, establishing a TRX reserve company.
Tron, the blockchain platform (Justin Sun) by Justin Sun, was rumored in mid-June that it was ready to list in the United States through a backdoor listing, directly investing in SRM with a $100 million TRX and establishing a holding company specializing in holding TRX tokens, and Justin Sun's father Weike Sun was appointed chairman of the board of directors and the sole investor in the case, and SRM Entertainment changed its name Tron, with Justin Sun as an advisor.
( Justin Sun's father invested in SRM with 100 million magnesium TRX, and SRM's stock price rose more than five times ) in a single day
Tron is the largest holder of TRX listed companies in the world, currently holding more than 365 million TRX tokens. At the end of June, it successfully staked its TRX through JustLend, and by combining standard staking rewards and energy leasing, the staking yield for TRX can reach up to 10%.
SRM jumped 53%, TRX gained more than 3% in 24 hours
SRM Entertainment's stock price surged by 533% on June 16, skyrocketing from $1.45 to $9.19, and then remained quiet for nearly a month. Yesterday, spurred by news, it launched an astonishing offensive again, with the stock price soaring 53% in a single day, while TRX's 24-hour increase exceeded 3%.
This article discusses how Sun Yuchen successfully went public via a reverse merger, with SRM being renamed to TRON, and experiencing a pump of over fifty percent in a single day. It first appeared in Chain News ABMedia.