Matt Levine’s Money Stuff: There’s a Tron Treasury Company

Tron Inc.

Among other things, crypto developed an alternative way to take companies public, or at least to take quasi-companies quasi-public. Traditionally, if you had a business idea, you would form a company to do that business. The company would receive the future profits of doing the business, and to raise money you would sell shares of the company, that is, rights to a portion of those future profits. Those shares are securities, and US law regulates how you can sell them: If you want to sell them to the general public in the US, you have to register them ...