Crypto platform Tron strikes deal with Nasdaq-listed company

News Snapshot:

Justin Sun’s crypto platform, Tron, has reached a deal with Nasdaq-listed company SRM Entertainment under which it will buy tokens, be renamed Tron Inc and have Sun join the company as an adviser, SRM said on Monday. SRM’s statement did not name the private investor whose US$100 million equity investment - valued at US$210 million if warrants are exercised - would be used to purchase Tron’s cryptocurrency. The Financial Times reported that the funds would be injected by Tron itself and that Tron was set to go public in the U.S. via a reverse merger with SRM. Spokespersons for Tron...