Trump Media Seeks $3 Billion for Crypto Investments

Trump Media & Technology Group, the social media company founded by former U.S. President Donald Trump, reportedly intends to secure approximately $3 billion for investments in cryptocurrencies, including Bitcoin. This information was disclosed by sources familiar with the situation, according to the Financial Times.

The funding plan involves raising $2 billion through the issuance of fresh equity and an additional $1 billion via a convertible bond, as per the report.

It’s important to note that the terms, schedule, and total amount of the capital raise are subject to potential modifications, the FT indicated.

In response to a request for comment, Trump Media Group dismissed both Reuters and the Financial Times as “fake news” outlets. The White House has not yet issued a statement regarding the matter.

Strategic Cryptocurrency Reserve

Trump Media, the organization behind the Truth Social platform, is actively exploring potential mergers and acquisitions to broaden its scope into the financial services sector.

Recently, Trump Media finalized a binding agreement to introduce a variety of retail investment products, encompassing crypto assets and exchange-traded funds that align with Trump’s “America First” principles.

However, these endeavors have attracted scrutiny from ethics watchdogs and regulatory bodies.

The announcement of the capital raise is anticipated before a prominent gathering of crypto investors and advocates this week, the FT report mentioned. Vice President JD Vance, along with Trump’s sons Donald Jr. and Eric, are slated to speak at the event.

Bitcoin experienced a 1.5% increase, marking its most significant upward or downward movement in three days and its largest gain in four days.