article Tron’s Bold Wall Street Entry: Will TRX Treasury Gamble Pay Off or Backfire?

Tron is about to shake up the traditional finance world in a move that could redefine how cryptocurrencies are treated on Wall Street. In a surprising twist, toy company SRM Entertainment has announced that it’s changing its name to Tron Inc. and shifting its financial strategy to heavily rely on TRX — the native token of the Tron blockchain — as part of its corporate reserves.

This isn’t your typical business update. It’s a reverse merger backed by a private investment of $100 million, which could surge to $210 million if all warrants are exercised. Tron founder Justin Sun will advise on the initiative, marking an aggressive attempt to validate TRX as a credible asset class in the eyes of Wall Street.

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Not All Crypto Treasuries Are Built the Same

Companies embracing crypto as part of their treasury strategies is nothing new. Bitcoin has already made its way onto balance sheets across the globe, thanks to pioneers like MicroStrategy. But Tron is going a step further: it’s betting on its own token — a digital asset closely tied to the company’s reputation and operations.

This is far riskier than holding BTC or ETH. Unlike Bitcoin, TRX is more thinly traded and tightly controlled by a centralized entity — which happens to be the same company holding it. In other words, Tron Inc. is using its own ecosystem's token as a financial backstop.

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The Circular Danger: TRX as Collateral

Using TRX in this way introduces a dangerous feedback loop. If investor confidence in Tron Inc. dips, TRX could lose value, which would in turn lower the perceived worth of the company — triggering a downward spiral.

Even with its bold announcement, TRX’s trading volume remains modest compared to major players. On June 17, it pulled in just $1.75 billion in 24-hour volume, dwarfed by Bitcoin’s $34.3 billion. Still, TRX sits among the top 10 cryptocurrencies by market cap — a testament to the network’s enduring presence in stablecoin movement.

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Tron: A Heavyweight in the Stablecoin Game

TRX was originally launched on Ethereum in 2017 and migrated to its own chain in 2018. Since then, it has grown into a massive stablecoin hub, particularly for Tether’s USDt, which sees the highest volume on the Tron network.

While parts of this growth have been linked to suspicious financial activities, Tron has made visible strides to tighten controls and reduce abuse.

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Eric Trump Controversy and Political Links

Adding fuel to the fire, initial reports claimed Eric Trump — son of former U.S. President Donald Trump — was involved in the new Tron entity. Though he denied any public role, connections emerged between him and Dominari Securities, the broker-dealer managing the investment. He and Donald Trump Jr. were reportedly part of Dominari’s advisory board as of February.

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The USD1 Stablecoin and Trump’s Memecoin Dinner Date

Sun has recently revealed himself to be the top holder of Trump’s memecoin, securing an invitation to dine with the former president. On June 11, Tron minted the first batch of USD1 — a stablecoin created by World Liberty Financial, a controversial DeFi initiative linked to the Trump circle.

Sun is not only the largest investor but also acts as an adviser to the project — further blending politics with crypto economics.

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Reverse Merger vs. Traditional IPOs: Tron vs. Circle

Tron’s market entry stands in contrast to Circle’s cleaner, more traditional IPO route. Circle’s USDC stablecoin is now the seventh-largest cryptocurrency, slightly ahead of TRX.

The SEC, for one, is already in conflict with Tron. It accuses Sun and his affiliated entities of selling unregistered securities, a charge that, if upheld, could require Tron Inc. to take on substantial regulatory compliance burdens.

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As of February, the SEC has requested a federal court to freeze its case against Sun. The future of this battle could shape the very definition of what is considered a security in the crypto world.

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Final Thoughts: A Gamble with Wall Street’s Attention

Tron’s maneuver is daring, possibly historic — but certainly dangerous. If successful, it could set a precedent for other crypto projects to follow suit. If not, it may serve as a stark warning of what happens when a company bets too much on itself in the volatile world of digital assets.