SRM Entertainment rebrands as Tron Inc., to adopt ‘TRON’ ticker after staking 365 million TRX for crypto treasury

The Block

2025-07-16 23:36:22

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SRM Entertainment said Wednesday it has rebranded as Tron Inc. and will change its Nasdaq ticker to TRON on Thursday, formalizing the pivot into managing a large corporate treasury of the Tron blockchain’s TRX token.

The name change caps a shift for the toy maker that drew headlines last month when reports said Tron founder Justin Sun planned to take his crypto group public in the United States via a reverse merger with SRM. Sun joined the company as an advisor on June 16, while SRM also secured $210 million to fund its TRX treasury strategy.

Dominari Securities, a New York investment bank tied to Donald Trump Jr. and Eric Trump, arranged the now-finalized deal. Eric Trump later said he would have no role at the company.

SRM holds more than 365 million TRX tokens, making it the largest publicly traded holder of the cryptocurrency, according to its statement. The firm launched the strategy with a $100 million equity raise and has since staked its TRX holdings through Tron‑based lending platform JustLend in pursuit of up to 10% in annual returns, The Block previously reported.

SRM CEO Rich Miller said the rebrand aligns with the company's goal to create long‑term value for shareholders by holding and deploying TRX.

"We believe that TRX will continue to play a critical role in building the next generation global payment rail and a more inclusive financial infrastructure with 24/7 low-cost and fast transaction capability," he stated in a press release.

Shares of SRM rose 25% following the announcement, while TRX posted a modest increase during a broader altcoin uptrend, according to The Block’s price data.

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