Sun Yuchen's TRON rings the bell on NASDAQ, with TRX arbitrage reaching 3.8 billion USD.

Justin Sun ('s blockchain platform Tron officially listed on Nasdaq under "TRON", and Brother Sun rang the opening bell at the exchange! Chain news breaks down the Sun family's investment costs, revealing that after investing 365 million TRX, Justin Sun could reap a high profit of 3.8 billion USD. These "treasury companies" have become arbitrage outlets for crypto whales.

Sun Yuchen's father invested 100 million TRX in SRM.

Justin Sun )'s blockchain platform Tron went public in the U.S. through a reverse merger, investing 100 million RON in the toy and related project manufacturer SRM Entertainment. Justin Sun's father, Weike Sun, is the sole shareholder of this investment, entering SRM as the chairman of the board, while Justin Sun was appointed as an advisor to SRM Entertainment, responsible for assisting in the development of TRON reserve strategies and promoting the application of blockchain technology.

This time, the investment in SRM involves the issuance of 100,000 shares of B series convertible preferred stock, which can be converted into 200 million common shares at a conversion price of $0.50 per share, for a total amount of $100 million.

Investors will pay 100 million dollars with TRON tokens (TRX(), based on the closing price on June 15, 2025, to be completed by June 30, 2025. The TRX tokens will be held in a custodial wallet controlled by the SRM board.

Breakdown of Sun Yuchen's shareholding cost

Weike Sun, the father of Sun Yuchen, is the sole shareholder of this investment project, but he is actually just a nominal figure. The actual investor and leader should be Sun Yuchen. Let's break down Sun Yuchen's cost and profit model:

Based on the TRX price of 0.274 USD on June 15, a total of 365 million TRX was spent to acquire shares.

Acquired 200 million shares of TRON stock at a cost of 0.5 dollars.

You can also subscribe to 220 million shares of TRON stock at a cost of 0.5 USD.

Sun Yuchen's full stock acquisition profit reached 3.8 billion dollars.

Calculating, Sun Yuchen's full stock subscription profit reaches as high as 3.8 billion dollars. Let's take a look at how high the profit is!

The cost of the stock option at 0.5 USD is far higher than the closing price of 1.43 USD on the day before the announcement ).

Investing 100 million RON in TRX, acquiring 200 million shares of TRON, with a cost of 0.5 USD and a closing price of 9.6 USD on 7/26, resulting in a profit of 1.82 billion USD.

If you subscribe to 220 million TRON shares at a cost of 0.5 USD, the profit reaches 2 billion USD.

But is the cost of TRX really 0.274 dollars? In the role of founder Sun Yuchen, the cost of the coin might be close to zero. This sale is equivalent to selling coins at a large scale at an agreed price off-exchange, and the profit could be far more than that!

It is currently unclear whether Sun Yuchen is subscribing to 220 million shares of TRON stock at a cost of $0.5, but even if purchased at cash price, who wouldn’t buy into a profit of up to $2 billion?

This investment method has brought Sun Yuchen at least $3.8 billion in profit, and allows him to liquidate his TRX holdings. This is similar to the analysis by London fintech analyst Boaz Sobrado in the article "The Crypto Treasury Pump: Insiders Cashing Out Billions?", where these "treasury companies" may just be an arbitrage outlet for crypto whales.

)E Are the guards worshiping the wrong idol? The encryption treasury company is just a Whale trap mechanism, a fictitious "buy coin" that makes a profit from stock market premiums (

This article discusses Sun Yuchen's TRON ringing the bell for its NASDAQ listing, with TRX arbitrage reaching 3.8 billion USD, first appearing in Chain News ABMedia.