Latest news with #SRM
Business Insider
2 days ago
- Business
- Business Insider
SRM Completes $100,000,000 TRON Treasury Launch
Weike Sun – Chairman of the Board Winter Park, Florida, June 30, 2025 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc. (Nasdaq: SRM) ('SRM' or the 'Company'), the largest publicly traded holder of TRON ('TRX') tokens in the world, today announced the successful staking of its treasury holdings of 365,096,845 TRON tokens ('TRX') through JustLend which enhances TRX staking yield to up to 10% per annum by combining standard staking reward and energy renting. This move follows its closing of a $100,000,000 investment earlier this month to launch a TRON treasury strategy. The Company is focused on creating long-term value for shareholders by capitalizing on the global adoption of cryptocurrency, blockchain and digital innovation. SRM recently appointed Weike Sun as Chairman of its Board of Directors and entered into agreement with TRON Blockchain Founder Justin Sun, who has joined its strategic advisory board. To further leverage the substantial TRX Treasury holdings, SRM plans to implement a dividend policy. The Company plans a name change to TRON Inc. to better reflect its new strategy. 'The TRON treasury strategy continues to unlock new value for our shareholders. We expect SRM to benefit as Blockchain technology gains wider adoption globally. TRON is an industry leader for cross border settlement in US dollar stablecoin which is great for our shareholders,' said Rich Miller, Chief Executive Officer of SRM. About SRM Entertainment, Inc. SRM Entertainment designs, develops, and manufactures custom merchandise which includes toys and souvenirs for the world's largest theme parks and other entertainment venues. Many of SRM's creative products are based on award winning multi-billion-dollar entertainment franchises that are featured in popular movies and books. SRM products are distributed worldwide at Walt Disney Parks and Resorts, Universal Parks and Destinations, United Parks and Resorts – SeaWorld, Six Flags and other attractions. About TRON blockchain Founded in 2017, TRON is a decentralized blockchain that supports smart contracts and decentralized applications, with lower fees and faster transaction time than other leading blockchains such as Bitcoin and Ethereum. It has since become one of the world's most popular Layer-1 Protocols, hosting approximately 80.7 billion in US dollar stablecoins as of June 29, 2025. Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'is/are likely to,' 'potential,' 'continue' or other similar expressions. These statements include, but are not limited to, statements regarding the Company's possible name change, the possible exercise of warrants issued in the Offering, and the Company's plans to implement a dividend policy. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 10-K, 10-Q and other reports filed with the SEC and available at Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law.
Korea Herald
23-06-2025
- Business
- Korea Herald
Trinasolar Releases 2024 Sustainability Report Highlighting Circular Innovation, Low-carbon Manufacturing, and Social Impact
CHANGZHOU, China, June 23, 2025 /PRNewswire/ -- Trinasolar, a global leader in smart PV and energy storage solutions, has officially released its 2024 Sustainability Report, showcasing advancements in innovation, sustainable manufacturing, supply chain transparency, social responsibility, and governance. In 2024, Trinasolar reached key Environmental, Social, and Governance (ESG) benchmarks and achieved remarkable milestones in solar and energy storage technology, demonstrating more than just world-leading innovation. Trinasolar's dedication to seizing opportunities and managing risks toward sustainable development is emphasized through the 2024 Sustainability Report. Customer-centric, scenario-oriented solutions In 2024, Trinasolar launched scenario-based solutions designed to meet the demands of diverse environments. These innovations tackled challenges in extreme conditions such as deserts, high humidity, strong winds, and severe weather, ensuring reliable performance and safeguarding customer value. By integrating solar projects into natural settings like deserts, farmlands, and fisheries, Trinasolar achieved a synergy between ecological preservation and economic returns. By the end of 2024, Trinasolar's cumulative global shipments of PV modules surpassed 260 GW, reducing CO2e emissions by approximately 385.75 million tons worldwide, the equivalent of planting 19.1 billion trees. These efforts support energy transitions in diverse applications while helping to build a sustainable future on a global scale. A leader in sustainable solar In 2024, Trinasolar reaffirmed its commitment to sustainable manufacturing, earning multiple third-party recognitions, including an MSCI rating of BBB, a Wind ESG rating of A, and a Sustainable Fitch rating of "2." The company's "SOLAR" sustainability management philosophy is embedded throughout operations, with notable progress in emissions reductions, water conservation, and circular practices: Mr. Gao Jifan, Chairman and CEO of Trinasolar, emphasized, "Green development is an integral part of Trinasolar's core principles. We are committed to providing green energy products and actively addressing climate change across our entire value chain." A digital, traceable supply chain In 2024, Trinasolar enhanced supply chain governance by leveraging its Supplier Relationship Management (SRM) platform and big data tools to map suppliers and launch a digital ESG performance system. This platform enables multi-tier classification and data-driven ESG rankings while enhancing traceability for carbon footprints, critical materials, and conflict minerals: The company targets 100% traceability for key raw materials within three years. Empowering communities and the future In 2024, Trinasolar invested approximately $2.2 million USD in community development and charitable initiatives, demonstrating its commitment to fostering social well-being and empowering local communities. Internally, the company increased its investment in occupational health and safety by 34%. Trinasolar also deepened collaboration with global academic institutions including: Looking ahead The 2024 Sustainability Report reflects Trinasolar's long-standing commitment to responsible growth while laying the foundation for continued ESG excellence. As a global clean energy leader, Trinasolar will continue to prioritize innovation, transparency, and collaboration to help build a greener, more inclusive future.
Yahoo
20-06-2025
- Business
- Yahoo
Trump-Linked Toymaker Goes Crypto--Turns $5M Into $127M Overnight
A forgotten toymaker just became one of the hottest crypto plays of the yearand it all happened in less than a month. SRM Entertainment (NASDAQ:SRM), best known for hawking koala backpacks and Smurf-branded tumblers, saw its stock spike over 500% this week after announcing it would pivot into crypto under a new name: Tron Inc. The move came with a surprise twistJustin Sun, the controversial crypto entrepreneur, joined as an adviser. Behind the scenes, a small investment bank called Dominari Holdingswhere Donald Trump Jr. and Eric Trump now serve as adviserswas orchestrating the deal. SRM shares jumped from under $2 to over $9 before settling above $7. The biggest winner? A fund tied to Dominari scooped up a stake for $5 million in May. By Tuesday, that bet was worth $127 million. Warning! GuruFocus has detected 6 Warning Signs with SRM. This windfall wasn't random. Dominari played both sides of the deal. It arranged the original SRM investment for American Ventures LLC Series III SRM, a fund run by Dominari executive Soo Yuwho also happens to be married to the firm's president. Dominari and Yu were paid in warrants as part of the May deal, which grew from $230,000 to $3.8 million. Then this week, Yu's fund received another 5.36 million warrants for stepping in as advisernow worth more than $38 million. SRM plans to keep making toys while quietly building a stash of digital tokens tied to Sun's crypto platform. Obviously he's quite an impact player in this space, SRM's CEO Richard Miller said. It's a bet on convergence: old-school toys + new-school tokens. Zoom out, and this fits a bigger pattern. Dominari pivoted into investment banking less than three years ago, abandoning its biotech roots. Since then, it's been laying crypto breadcrumbsbuilding ventures like World Liberty Financial and American Bitcoin, both with Trump-linked ownership. Justin Sun has been a recurring face in those plays, too, despite a paused SEC lawsuit hanging over him. There's no indication the Trump brothers were involved in the SRM trades. But when your firm's address is Trump Tower, your executive team includes family friends, and your fund's crypto play just minted $100M+ on paper investors tend to pay attention. This article first appeared on GuruFocus. Sign in to access your portfolio
Axios
17-06-2025
- Business
- Axios
Justin Sun's Tron to test public stock appetite for edgier crypto
Supporters of the Tron blockchain, the $26 billion network founded by Justin Sun, the crypto billionaire who ate the multi-million dollar banana, looks set to take over a public company in the U.S. Why it matters: Tron is a top-10 blockchain, but it's a project that — like its founder — has been mired in controversy, making it an awkward target for mixing into traditional portfolios. Catch up quick: Tron is set to go public via a reverse merger with Nasdaq-listed SRM Entertainment, a small merchandising company. SRM will change its name to Tron, Inc, and has inked a deal to raise $100 million from a private investor, which it will use to buy Tron's token to park in its treasury, the company said Monday. Sun has also signed an advisory agreement with the new firm. Between the lines: Sun seems to be following the trend of crypto asset treasury companies using public equity markets to support the long-term value of a crypto asset. Many companies this year have begun emulating Strategy, Inc.'s long standing bitcoin acquisition approach, using leverage to increase crypto holdings per share of an underlying stock over time. Yes, but: Sun is one of the most divisive figures in the cryptocurrency industry, one who has been known for jumping on every trend that starts to make money in the space, from DeFi to NFTs to algorithmic stablecoins. He also has a contentious history with U.S. regulators, and more recently, has made very public moves to cozy up to the Trump administration. Flashback: Sun and Tron were under investigation by the SEC since 2023, until the suit went on pause back in February. Unlike many of the cases brought by the Biden-era leadership of the agency, this case included serious allegations of market manipulation. Shortly after the election, Sun invested $75 million in a token issued by Trump linked company World Liberty Financial. He was also the #1 holder of the Official Trump meme coin going into the private dinner with the president. Friction point: The proximity of the investments and the SEC's decision to halt Sun's case has sparked questions from Democratic lawmakers. The intrigue: The Tron deal was arranged by Dominari Holdings, a company that counted Donald Trump Jr. and Eric Trump as two of its largest shareholders as of April 15. Dominari also backed American Bitcoin, the bitcoin mining venture led by the two Trump brothers. So the SRM/Tron deal raised a lot of eyebrows this week when the Financial Times reported that Eric Trump would have a role in the new venture. He denied it on X. What we're watching: Tron's profile is likely to heighten in coming years — it's one of the most popular platforms for transacting in stablecoins, representing an estimated 61% of all payments made on chain with stablecoins.
Coin Geek
17-06-2025
- Business
- Coin Geek
Sun taking TRON public in US, Trump family denies involvement
Getting your Trinity Audio player ready... Justin Sun is taking his TRON blockchain public in the U.S., while growing ties to the Trump family could complicate passage of U.S. stablecoin legislation. On June 16, the Financial Times broke the news that the TRON blockchain, founded by Justin Sun, plans to go public on the Nasdaq via a reverse merger with SRM Entertainment, a struggling theme-park merchandise supplier. The report was quickly confirmed by SRM, which announced that it had reached a deal with 'a private investor' who will take a $100 million equity investment in SRM. As a result, SRM will rebrand as Tron Inc and Sun (aka the 'investor') has been named an advisor to the new entity. The deal will also see SRM issue 100,000 new shares of its Series B Convertible Preferred Stock, which will be convertible to 200 million shares of SRM's common stock. There will also be 220 million warrants to acquire common shares at $0.50 apiece, bringing the total investment to $210 million. SRM plans to use the funds to 'initiate a TRON Token (TRX) Treasury Strategy.' Like many of the firms that have launched 'treasury' strategies in recent months, SRM was a loss-making company with little hope of pulling out of its financial spiral. In April, SRM was granted a six-month reprieve of Nasdaq's October 2024 threat to delist the stock due to its inability to stay above the $1 minimum bid price. News of the Sun deal appears to have leaked late last week, as SRM's share price—which had been mired around $0.60 for most of June—more than doubled by June 13. The shares closed Monday around $9.19, a modest 534% rise for the day. The deal was brokered by Dominari Securities, a Nasdaq-listed firm with a colorful history that's based out of Trump Tower in Manhattan and added President Trump's sons, Eric and Donald Trump Jr., to its list of advisors in February. Dominari's share price, which was struggling to stay above $1 at the time, shot up over $12. Each brother received 750,000 Dominari shares at the time they joined, stakes that are currently worth $3.75 million apiece. Dominari also supplied the shell company that morphed into the American Bitcoin Corp (ABTC) block reward mining venture the Trumps launched this spring with miner Hut 8 (NASDAQ: HUT). The FT reported that Eric Trump was expected to take a role as advisor to Tron Inc. but Eric tweeted Monday that 'I'm the biggest fan of Tron and love @justinsuntron – he is a great friend and an icon in the crypto space. That said the [FT's claim] is inaccurate – I don't have public involvement.' (The word 'public' may be doing some heavy lifting there.) Regardless, Sun continues to deepen his ties to the Trump family's crypto ventures, which started last year with Sun buying $75 million worth of WLFI, the governance token of the Trump-controlled decentralized finance (DeFi) project World Liberty Financial (WLF). WLF subsequently appointed Sun as an advisor and both Eric and Don Jr. have praised Sun via their personal X accounts. Sun later bought more than $20 million worth of the $TRUMP memecoin that was issued by the president just days before his inauguration in January. Sun's status as a $TRUMP whale granted him access to last month's gala dinner at a Trump-owned golf course for the top 220 $TRUMP holders. It wasn't that long ago that Sun didn't dare set foot on U.S. soil, partly because of his legal difficulties with the Securities and Exchange Commission (SEC) but also over concerns that the Department of Justice (DOJ) might be waiting with unsealed criminal charges. But the SEC has since mothballed its civil complaint, and the DOJ is under new management, leaving Sun free to come and go as he pleases. Following the SRM announcement—but before Eric's denial of having any role in the deal—Rep. Sean Casten (D-IL) tweeted that '[t]he crypto industry would have a lot more credibility if they called out growing number of criminals who seem to really like their toys. Including the Trump family.' A GENIUS move? Sun was quoted in the SRM release saying 'stablecoins and blockchain are revolutionizing global payments.' SRM CEO Rich Miller praised TRON as 'the industry leader for cross border settlement in US dollar stablecoin.' For the record, TRON's native token TRX isn't a stablecoin, and while TRON does host the majority ($78.7 billion) of USDT, the market-leading dollar-denominated stablecoin issued by Tether, Sun has not been shy about promoting USD1, the stablecoin launched by Trump's WLF this spring. TRON recently started to mint USD1, and the Sun-linked HTX (formerly Huobi) became the first digital asset exchange to list USD1 as a trading option in May. USD1's market cap has been stuck around $2.1 billion for a while now, but could that be about to change? It will be interesting to see whether Sun's new deal might impact Tuesday's Senate floor vote on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. GENIUS passed some procedural votes with a significant number of Dems joining their Republican colleagues, but the publicity surrounding yet another Sun/Trump tie-up—Eric's denial notwithstanding—could cause some of these pro-crypto Dems to rethink their support when it comes to the final vote. It brings to mind last week's Decrypt article, in which an unidentified crypto lobbyist griped that the Trump family and its crypto venture partners 'hate us. They announce a new product every time there's a key vote' on legislation in Congress. Back to the top ↑ Trump's next filing should be a doozy On June 15, the Financial Times reported on a June 13 filing with the U.S. Office of Government Ethics detailing the president's 2024 income and assets. The filing lists nearly $57.4 million derived from Trump's WLF revenue, as well as his control of 15.75 billion WLFI (out of a total supply of 100 billion). Trump earned $1.1 million via the sale of branded non-fungible tokens (NFTs), while Trump's wife, Melania, earned nearly $217,000 from her own NFT collection. The filing also shows Trump holds between $1 million and $5 million in the Ethereum network's native ETH token (likely earned via his four different NFT collections). The filing only details income/assets from 2024, meaning it lacks WLF contributions from this year. Nor does it include the over $400 million in fees from $TRUMP memecoin sales, contributions from the ABTC mining venture, or the crypto activities of his Trump Media & Technology Group (TMTG) (NASDAQ: DJT). Speaking of TMTG, the U.S. SEC gave its stamp of approval last week to the company's 'BTC treasury' strategy, aka raising $2.4 billion to buy BTC and give investors a reason to buy the company's shares. TMTG generates little revenue (less than $1 million in the first quarter of 2025) from its actual business operations, which include the Truth Social platform. TMTG's long-term plan could see it raise up to $12 billion to fund additional BTC purchases at some future date. But investors seem unimpressed, as TMTG opened Monday's trading at $19.52, less than half its $43 peak in January. The shares continued their downward trajectory on Monday, closing out the day at $18.67 (-4.35%). On June 16, TMTG filed a new application for a Truth Social Bitcoin and Ethereum ETF (exchange-traded fund). The precise makeup of the new ETF has yet to be determined but 'is initially expected to approximate a three-to-one ratio of the value' of BTC to the value of the ETH it holds. TMTG previously announced plans to issue multiple crypto-focused ETFs and filed an application with the SEC earlier this month to launch the Truth Social Bitcoin ETF. The tokens in TMTG's ETFs will be custodied by Foris DAX Trust Co, an offshoot of the digital asset exchange. Back to the top ↑ Trump campaign 'planted crypto flag' to attract minority voters At last week's State of Crypto Summit in New York presented by the Coinbase (NASDAQ: COIN) exchange, President Trump sent a pre-recorded video to address those in attendance. To no one's surprise, Trump's talk consisted primarily of listing his efforts to loosen crypto regulations and reminding everyone how much worse off they'd be without him in their corner. Also appearing at the summit (in person) was Chris LaCivita, who co-managed the president's 2024 election campaign. Coinbase appointed LaCivita to its Global Advisory Council shortly after Trump's inauguration and LaCivita appeared eager to remind Summit attendees of the ties that should bind them to the president's party. LaCivita also revealed that Republicans decided to 'plant our flag on [the crypto] issue' because it offered 'an opportunity to reach a wider swath of voters, and maybe ones that were a little outside of the, uh, of the Republican, you know, box.' Republicans have traditionally struggled to make inroads with minority voters, including Black, Hispanic and Asian groups. But these groups report significantly higher rates of digital asset ownership than white voters, offering a possibility for outreach that the GOP was only too eager to exercise. LaCivita admitted that Republicans 'have waged campaigns that at times have been accused of subtraction' rather than trying to grow their 'tent' beyond their base. Enter crypto, which 'gave us an opportunity to establish common ground with an area and a demographic that we need to expand in in order to be successful.' Back to the top ↑ Tanks, no thanks A couple of days after the Summit, Coinbase was a high-profile sponsor of the president's military parade through the streets of Washington, D.C., with its logo conspicuously displayed behind the president's podium. Coinbase's involvement in the highly polarizing event didn't go down well with crypto community members who saw this public embrace of state power as antithetical to Bitcoin's individualistic origins. Many also saw CEO Brian Armstrong as hypocritical, given his 2020 op-ed that suggested employees who wish to engage in political advocacy might want to find employment elsewhere. The Coinbase execs who've publicly defended the sponsorship have argued that the event was celebrating the Army's 250th birthday, not any one politician or party. However, much of the controversy surrounding the parade was because that day was also the president's 79th birthday. So far, Trump has yet to announce any similar celebrations for the Navy or Marine Corps, both of which celebrate their own 250th birthdays this year, just not on his birthday. Coinbase made a seven-figure contribution to Trump's inauguration committee and has signed on as a 'major sponsor' of America250, the 2026 party for the country's 250th birthday. But the company has repeatedly pointed out that its political efforts are bipartisan and will support politicians of any stripe if they're sufficiently pro-crypto. However, it's precisely this mercenary approach that seems to have unnerved some crypto supporters, the suggestion that a party or politician's overall policies can be disregarded so long as they continue to advance crypto's cause. Back to the top ↑ Watch: Bringing the Metanet to life with Teranode title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
