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TRX surges as SRM Entertainment secures $100M deal to launch TRON treasury
- TRON's cryptocurrency TRX experiences a surge in price following a high-stakes merger and investment deal with SRM Entertainment.
- SRM Entertainment secures a $100 million deal to launch a TRON-based treasury strategy, leading to a 3% increase in TRX price.
- The agreement involves SRM issuing Series B Convertible Preferred Stock and warrants worth up to $210 million toward a TRON Treasury Strategy.
- Justin Sun, founder of TRON blockchain, becomes an advisor to SRM Entertainment as part of the deal.
- SRM Entertainment rebrands to Tron Inc. following the agreement, with Donald Trump Jr. and Eric Trump reportedly playing a role in the reverse merger.
- Sun's involvement showcases a close relationship with the Trump family, emphasizing investments in TRUMP meme coin and World Liberty Financial.
- TRX price surged to $0.2803, with over $1.2 billion in trading volumes and a market capitalization exceeding $26.5 billion.
- Justin Sun underscores TRON's global reach with 310 million user accounts and daily on-chain transactions over $20 billion in US dollar-backed stablecoins.
- TRON's planned dividend policy linked to TRX staking aims to attract institutional and retail investors in the future.
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