Sun’s Tron jumps 18% on $1 billion shelf offering filing
Justin Sun’s Tron blockchain network filed a $1 billion mixed shelf S-3 offering with the SEC, including common stock, preferred stock, debt instruments, and warrants, regulatory filings show.
Shares of TRON jumped 18% upon the announcement. Tron, the native cryptocurrency for the Tron blockchain, was up 1% in the past day and 136% over the past year.
Doug Colkitt, initial contributor at layer-1 blockchain Fogo, told Sherwood News that this is the TradFi playbook meeting crypto chaos, “plain and simple.”
“Tron’s using the public markets to back a massive token treasury play. It’s bold (maybe even a little reckless), but it’s certainly not boring,” he said.
Colkitt added that if this becomes a trend, we’ll see more crypto-native companies structuring equity around token accumulation.
“One thing is for sure: markets are clearly willing to speculate on the upside,” he added.
In June, Sun took the company public via a reverse merger with toy supplier SRM Entertainment, changing the name to Tron “to align with its major transformation into a TRON (‘TRX’) treasury strategy company.” The company also subsequently changed its ticker to “TRON” on the Nasdaq. Shares jumped 460% following the announcement, according to CNBC.
Mike Cahill, CEO of Douro Labs, said the S-3 filing gives Tron more flexibility to tap public markets and deepen its TRX treasury strategy.
“It’s a playbook we’ve seen from firms like Strategy, but this time, it’s a crypto-native move from the inside out. The market is responding because it sees the potential for a reflexive flywheel: more TRX on the balance sheet drives more confidence, which can fuel both stock and token momentum,” he said.
Earlier this month, Sun, who was the top $TRUMP holder and winner of the $TRUMP gala dinner in May, announced he bought an additional $100 million of the token. Sun is no stranger to President Trump’s crypto projects, having poured millions into World Liberty Financial (WLFI).
