Tron Inc. put over 90% of assets behind an uninsured JustLend dependency as its TRX treasury kept growing

Nasdaq-listed Tron Inc. continues expanding its TRX treasury reserve as it routes nearly all of its holdings through JustLend, the largest DeFi platform on the TRON blockchain.On Aug. 12, the company said it acquired another 148,944 TRX at an average price of $0.3357, pushing reported holdings above 709.4 million TRX.The purchase follows the company's second-quarter filing, which showed it planned to continue acquiring TRX despite current market conditions. Notably, about 95% of the firm's assets are invested in or committed to TRX.The SEC filing showed that Tron Inc. held $233.8 million of TRX and staked TRX, or sTRX, as of June 30.That represented more than 91% of its $256.2 million balance sheet. Of the position, $229.7 million was sTRX issued through JustLend, leaving nearly 90% of total assets directly exposed to the protocol.Tron Inc. said it had staked nearly 100% of its treasury TRX through JustLend to generate returns from standard staking and energy rentals.The activity generated $6.33 million in unrealized staking income during the first half of 2026, including $3.35 million in the second quarter. That exceeded the $2.75 million of revenue generated by its operating busi...