PANews reported on June 16 that according to Globenewswire, entertainment company SRM Entertainment, Inc. (NASDAQ: SRM) announced that it has signed a securities purchase agreement ("SPA") with a private investor. The agreement will be in the form of a $100 million equity investment. SRM will use this money to launch the Tron token (TRX) treasury strategy. In addition, Sun Yuchen, founder of the Tron blockchain, has been appointed as a consultant to the company. In addition, the company plans to change its name to Tron Inc. If all warrants are exercised, the value of this strategic investment will reach $210 million.