The company listed on the Nasdaq and previously operating as a low-value stock under the name SRM Entertainment, Tron Inc., is seeking approval from U.S. regulators to raise $1 billion in order to expand its holdings in TRX, following its reverse merger with Justin Sun's blockchain project.

The funds raised will be allocated to expanding the company's TRX treasury, which already holds more than 365 million TRX tokens following its reverse merger last month.