Wall Street has been asking: what is the Chinese version of CRCL? They’re looking to invest in a CRCL-like company that is more efficient, has a lower valuation, and generates higher profits. Now the answer is here: TRON. Its issuance is on a similar scale to CRCL. Over the past year, TRON generated $3.3 billion in profit, while CRCL has been operating at a loss. TRON’s current market cap is around $500 million, compared to CRCL’s $35 billion—meaning TRON is valued at roughly 1/70 of CRCL. Just to clarify, TRON is not a Chinese company; it remains a U.S. company.