賈斯汀·孫（Justin Sun）的TRX ETF提交標誌著TRON網絡的新章節

本月早些時候，美國著名資產管理公司Canary Capital正式向美國證券交易委員會（SEC）正式向TRX ETF提交了S-1註冊聲明。

Canary Capital, the U.S. asset management firm, has officially filed an S-1 registration statement with the Securities and Exchange Commission (SEC) for a TRX ETF, marking a significant milestone in TRON's journey toward mainstream integration in the U.S. capital markets.

美國資產管理公司Canary Capital已正式向美國證券交易委員會（SEC）提交了S-1登記聲明，以標誌著TRON在美國資本市場中邁向主流整合的旅程中的重要里程碑。

This filing marks the first time TRON will be attempting to enter the U.S. capital market in a fully compliant manner. It’s a high-stakes regulatory bet and a strategic rebranding move for the network.

該文件標誌著Tron首次嘗試以完全合規的方式進入美國資本市場。這是一個高風險的監管賭注，也是網絡的戰略性更高品牌的舉動。

While some projects in the crypto market since 2017 have capitalized on meme coin hype or achieved rapid wealth through regulatory arbitrage, and many others have opted for indirect listings to circumvent SEC oversight, Justin Sun has been focused on principles of inheritance, perseverance, and building. For more than a decade, Sun has maintained his belief that an industry can only enjoy longevity with sustained regulatory compliance and industry faith.

雖然自2017年以來的加密市場中的某些項目已經大寫了模因硬幣炒作或通過監管套利實現了快速財富，而許多其他項目選擇了間接清單來避免SEC的監督，但賈斯汀·孫一直專注於遺產，毅力和建築物的原則。十多年來，Sun一直堅持自己的信念，即行業只能以持續的監管合規性和行業信仰享受壽命。

This conviction has led TRON to become the leading ‘on-chain dollar’ network, with its network's USDT issuance holding over 30% of the stablecoin market share. But TRX is only one part of a much larger playbook.

這種信念使特隆成為領先的“鏈美元”網絡，其網絡的USDT發行佔Stablecoin市場份額的30％以上。但是TRX只是一本更大的劇本的一部分。

Behind the scenes, Sun has been assembling a triad of infrastructure, liquidity, and stability — all rooted in a commitment to compliance: TRON, the HTX exchange, and the USDD stablecoin — a three-pronged strategy designed to create a self-sustaining Web3 ecosystem.

在幕後，Sun一直在組裝基礎架構，流動性和穩定性的三合會 - 所有這些都植根於對合規性的承諾：TRON，HTX Exchange和USDD StableCoin，這是一種三方面的策略，旨在創建自我維持的Web3 EcoSystem。

HTX Exchange: The Engine Driving Ecosystem Growth

HTX交換：發動機驅動生態系統增長

TRON may be the foundational layer, but HTX is the gateway.

Tron可能是基礎層，但HTX是網關。

The primary user onboarding platform in Sun's ecosystem, HTX serves as both a traffic hub and liquidity driver. And despite Q1 2025 being a down period for the market, HTX defied gravity.

HTX是Sun生態系統中的主要用戶登機平台，既是交通中心和流動性驅動程序。儘管第1季度2025年是市場的縮短時期，但HTX還是違反了重力。

According to CoinGecko's Q1 2025 Crypto Industry Report, HTX was the only top-10 exchange to register spot trading growth. While the total crypto market cap fell 18.6%, HTX saw a 11.4% quarter-over-quarter increase in spot volume — outperforming peers who faced declines ranging from 1.8% to 34.0%.

根據Coingecko的第1季度2025 Crypto行業報告，HTX是唯一註冊現貨交易增長的前十名交易所。儘管加密貨幣市值下降了18.6％，但HTX的現貨量增加了11.4％的四分之一季度 - 表現優於面臨的同行，他們面臨的範圍從1.8％到34.0％。

Beyond trading, HTX's product suite — derivatives, earn, staking — has seen rapid enhancements. By optimizing fees, expanding yield options, and diversifying offerings, the platform has significantly improved user retention.

除了交易之外，HTX的產品套件（衍生品，賺錢，積分）已經快速增強。通過優化費用，擴大收益率選擇和多樣化的產品，該平台可顯著改善用戶的保留率。

Recently, HTX has also inked partnerships with Fireblocks and other institutional-grade infrastructure providers to further its commitment to safe, compliant trading.

最近，HTX還與Fireblocks和其他機構級基礎設施提供商建立了合作夥伴關係，以進一步促進其對安全，合規性交易的承諾。

Perhaps most impressively, HTX has become the launchpad for Sunpump, TRON's Meme ecosystem. Through tightly integrated token launches, staking rewards, and airdrops, HTX now enables a full go-to-market funnel for emerging Web3 projects, converting curiosity into actual user participation.

也許最令人印象深刻的是，HTX已成為Tron Meme生態系統Sunpump的發射台。通過緊密集成的令牌啟動，積分獎勵和Airdrops，HTX現在可以為新興的Web3項目提供完整的上市漏斗，從而將好奇心轉換為實際用戶參與。

This kind of resilience in a bear market isn't just about business — it's about ecosystem durability.

在熊市中，這種韌性不僅僅是關於生態系統耐用性。

USDD: The Decentralized Dollar with Global Ambitions

USDD：具有全球野心的分散美元

No ecosystem is complete without a stablecoin, and Sun has made his move here as well.

沒有穩定的人，沒有任何生態系統是完整的，太陽也在這裡搬到這裡。

USDD is a decentralized stablecoin project on the TRON blockchain. Officially launched on May 5, 2022, it was upgraded to USDD 2.0 on January 25th this year. USDD 2.0 relies on over-collateralization, liquidation auctions, risk management modules, PSM (Peg Stability Module), and decentralized governance to maintain a 1:1 USD peg. Furthermore, USDD possesses stability and multiple security measures.

USDD是TRON區塊鏈上的一個分散的Stablecoin項目。該公司於2022年5月5日正式啟動，於今年1月25日昇級為USDD 2.0。 USDD 2.0依賴於過度的物質化，清算拍賣，風險管理模塊，PSM（PEG穩定模塊）和分散的治理來維持1：1 USD PEG。此外，USDD具有穩定性和多種安全措施。

As of April 21, USDD 2.0 has surpassed 350 million in circulation, which reflects the growing global adoption of the token. This widespread user adoption indicates USDD's steadily increasing prominence within the DeFi community.

截至4月21日，USDD 2.0的流通量已超過3.5億，這反映了全球對代幣的採用日益增長。這種廣泛的用戶採用表明，USDD在Defi社區中的穩步提高。

USDD is more than just a token; it's Sun's answer to financial sovereignty — a decentralized alternative for traditional payments and cross-border asset flows.

USDD不僅僅是一個令牌；這是對財務主權的答案，這是傳統支付和跨境資產流的分散替代方案。

Breaking the Web3 Trilemma?

打破Web3三元素？

Justin Sun has long been called the "engine of contrarian growth." Ever since gracing the cover of Forbes, Sun has positioned himself as someone seeking to solve the impossible trinity of crypto: regulatory compliance, technical decentralization, and mass adoption.

賈斯汀·孫長期以來一直被稱為“逆勢增長引擎”。自從掩蓋福布斯的掩護以來，孫就將自己定位為尋求解決不可能的加密三位一體的人：監管合規，技術權力下放和大規模收養。

With the TRX ETF targeting traditional finance, HTX capturing crypto-native liquidity, and USDD anchoring real-world utility — he may finally be close.

憑藉針對傳統金融的TRX ETF，HTX捕獲了加密本地流動性，並錨定了現實世界實用程序的USDD - 他最終可能會很接近。

The TRX ETF filing isn't just paperwork. It's a signal that TRON, and by extension Sun's broader empire, is ready to bridge Web3 with Wall Street.

TRX ETF申請不僅僅是文書工作。這是特隆（Tron）和擴展太陽（Sun）更廣泛的帝國的信號，準備與華爾街（Wall Street）橋接Web3。

If this bet pays off, Sun's oft-repeated vision — "Achieve financial freedom for 8 billion people on Earth," — may evolve from slogan to strategy, and eventually, to reality.

如果這是有回報的，那麼Sun經常重複的願景“實現地球上80億人的財務自由”，可能會從口號到戰略，最終發展到現實。