Overview

• The Nasdaq-listed company now trades near $0.33, down from $12.80 on June 20, including a 55% drop in September.
• Tron Inc. entered Nasdaq on July 24 through a reverse merger with SRM Entertainment as it pursued a TRX-linked treasury strategy.
• The SEC and FINRA are investigating roughly 200 firms for suspicious trading before crypto-treasury announcements, increasing uncertainty.
• Comparable digital-asset-treasury names have fallen, with MicroStrategy down about 30% over three months and Bitmine Immersion Technologies down 67%.
• Investor concerns were stoked after Justin Sun moved WLFI tokens to the HTX exchange, prompting WLFI to freeze his remaining unlocked tokens.