Nasdaq-listed Tron Inc., which launched in June following a reverse merger with SRM Entertainment, doubled its TRX accumulation, adding $110 million in tokens to increase its treasury holdings to over $220 million.
The new investment came after Bravemorning Limited, Tron’s biggest shareholder, exercised warrants to invest an additional $110 million, adding 312.5 million Tron (TRX) tokens to the company’s treasury, according to a Tuesday news release.
“With this additional $110 million investment from our largest shareholder, Tron Inc. has strengthened its position as the largest public holder of TRX tokens,” said Tron Inc. CEO Rich Miller.
Bravemorning now holds an 86.6% stake in the company and has invested a total of $210 million to date.
Related: Will Tron’s Wall Street hopes implode with TRX as collateral?
Tron Inc. brings Justin Sun on as adviser
Tron Inc. launched in June following a reverse merger with SRM Entertainment. That deal secured $100 million in equity and included preferred shares and warrants valued at $210 million. It also brought Tron founder Justin Sun on board as an adviser.
In July, the company also filed with US regulators to raise up to $1 billion through a mix of common stock, preferred stock, debt securities, warrants and rights, with proceeds earmarked for expanding its TRX reserve and Web3 business units.
Since its rebranding and merger, the company’s stock has surged. According to data from Google Finance, Tron Inc.’s shares have surged by more than 1,128% over the past six months. The company’s stock is currently priced around $4.30, largely flat over the past day.
Related: Crypto treasury firms mirror CDO risks from 2008 financial crisis: Crypto exec
Altcoin treasuries are riskier
In the first half of 2025, crypto treasury strategies gained momentum, with companies following Strategy’s Bitcoin-heavy approach. However, newer treasury moves involve altcoins, especially major tokens like Ether (ETH), Solana (SOL) and XRP (XRP).
Meanwhile, Tron Inc.’s plan stands apart, as it aims to hold its own blockchain’s native token as a reserve asset. “The company is essentially holding its own equity-like asset as collateral. This is circular and risky,” Jamie Elkaleh, marketing chief at Bitget Wallet, told Cointelegraph.
“If confidence in Tron Inc falters, TRX may drop, which then tanks Tron Inc’s perceived value even further,” he added.
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