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Sun Yuchen: SRM daily volume surpasses Alibaba and Tencent
Gate News bot message, Sun Yuchen stated on X that the daily trading volume of "Tronstrategy" (the NASDAQ-listed company SRM) has exceeded 1.8 billion USD, surpassing Alibaba (1.19 billion USD) and Tencent (700 million USD).
According to previous news, SRM Entertainment, which is listed on Nasdaq, announced on Monday that the company plans to launch a corporate treasury on the Tron blockchain worth up to $210 million and will change its name to Tron Inc.
According to the announcement, SRM has signed a securities purchase agreement with a private investor to obtain a $100 million equity investment to fund its Tron (TRX) treasury strategy. Tron founder Justin Sun will join the company as an advisor.
As part of the transaction, SRM Entertainment will issue 100,000 shares of Series B convertible preferred stock. These preferred shares can be converted into a total of 200 million common shares at a conversion price of $0.50 per share, and 220 million warrants will be issued, allowing for the purchase of a total of 220 million common shares at an exercise price of $0.50 per share.
Tron Inc. plans to implement a dividend policy after the launch of the TRX staking program for company assets.