Tron founder Justin Sun is known to have close ties with Donald Trump.

SRM Entertainment (SRM) grabbed the spotlight last week and was among the top trending tickers as of late Sunday after a major deal with Chinese blockchain entrepreneur Justin Sun, who is seen to be close to President Donald Trump.

On Monday, the American toy company said it is merging with Sun's Tron group, renaming itself Tron, and acquiring Tron's TRX digital tokens as a treasury asset. Sun will become an advisor to the newly created company.

SRM is raising $100 through a private placement of its shares, which could go up to $210 million if the warrants are exercised, to buy TRX tokens. The tokens will be held in a custodian wallet controlled by the company's board.

SRM shares have gained 646% over the last week to just over $11.

On Stocktwits, retail sentiment was 'extremely bullish' last week before dropping to 'bullish' on Sunday.

The message volume for the ticker increased by a whopping 3,900% over the previous week. The number of users with the stock on their watchlist rose 37%.

The latest deal highlights growing confidence among crypto ventures in the U.S., fueled partly by Trump's supportive stance. Even non-crypto companies, such as GameStop (GME), are investing in digital assets, eyeing potential gains as prices rise.

Tron is a decentralized blockchain platform with its own token, launched by Sun in 2017. Through his dealings, Sun is known to have close ties with Trump.

He invested $75 million in World Liberty Financial, the crypto venture backed by the Trump family, and became an adviser to the project. He also owns $20 million of $TRUMP meme coin and was part of a gala dinner Trump organized last month for the largest holders of that token.

Also, HTX, a crypto exchange Sun leads, recently became the first trading venue to list World Liberty's USD1 stablecoin.

On Stocktwits, a user stated that it would be "stupid to short (the stock) into a huge crypto hype pump," adding that the Genius Act will soon be passed into law.

The act, which regulates stablecoins, was passed by the Senate last week and now heads to the House. If approved, it will move to the President for final sign-off.

Another user flagged that governance and related-party dynamics (e.g., Sun family involvement) might draw investor scrutiny.

Dominari Securities, which lists Trump's sons Eric Trump and Donald Trump Jr., is the sole advisor for SRM's capital raise.

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