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Trump Media to raise $3 billion to spend on cryptocurrencies, FT reports
- Donald Trump's media company announced Tuesday at Mar-a-Lago that approximately $2.5 billion in funding from institutional investors will be raised through stock sales to establish a bitcoin reserve.
- This fundraising follows Trump Media's strategy shift as Trump, who once called cryptocurrencies 'not money' due to volatility, now supports creating a bitcoin treasury.
- Approximately 50 institutional investors are committing $1.5 billion toward common stock through a private placement, along with an additional $1 billion in convertible senior notes, with the funds intended to be secured via Crypto.com and Anchorage Digital.
- Shares fell 9% following the announcement, with CEO Devin Nunes stating this investment will help defend the company against financial institutions' harassment.
- The move establishes cryptocurrency as a core asset for Trump Media and aligns with crypto industry backers' plans to support Trump's 2024 campaign aggressively.
237 Articles
237 Articles
Critics say Trump's policies weaken the U.S. dollar as his businesses invest in crypto
This week, Trump Media and Technology Group announced it is selling shares and bonds to raise $2.5 billion to create a "Bitcoin treasury.” It marks the Trump family’s latest addition to their cryptocurrency empire. Trump’s sons, Donald Jr. and Eric, run the family’s multiple crypto ventures and spoke at the world’s largest Bitcoin conference in Las Vegas. Laura Barrón-López reports.
Last year, Trump promised bitcoin bros a seat at the table. For better or worse, he wasn’t lying
It’s hard to overstate how much President Donald Trump has changed his tune on crypto, which he criticized in his first term as “highly volatile and based on thin air.”
Graphic Truth: Trump’s crypto coin flip
Donald Trump’s crypto empire is expanding rapidly — and it’s sending shockwaves through both Washington and the digital-asset world. Once a vocal crypto skeptic, Trump has reemerged as the industry's most powerful advocate since returning to the White House. His business interests now span from the $TRUMP meme coin and crypto startups like World Liberty Financial to a new plan by Trump Media & Technology Group to raise $2.5 billion for Bitcoin, …
Trump Binds His Billionaire Status to Bitcoin Now More Than Ever
President Donald Trump has made no secret of his love for the crypto industry in his second term, appointing friendly regulators, establishing a US digital asset stockpile, ending prosecutions and pardoning its criminals.
Trump Media Confirms $2.5B Capital Raise to Buy Bitcoin
Trump Media & Technology Group, the Trump family-controlled company behind Truth Social, has confirmed it will raise $2.5 billion to invest in bitcoin, reversing a blunt denial of a Financial Times report that it was set to embark on a multibillion-dollar capital raise for crypto investment. The company’s unapologetic about-face comes only a day after it lashed out at the FT, which it accused of having “dumb writers listening to even dumber sour…
ThePatriotLight - Trump Media announces $2.5B Bitcoin treasury deal
ThePatriotLight - Photo: Alamy Trump Media & Technology Group Corp., the parent company of platforms including Truth Social, streaming service Truth+, and the financial technology brand Truth.Fi, has announced it is raising roughly $2.5 billion through a private placement deal involving around 50 institutional investors. Under the terms of the agreement, the company will issue approximately $1.5Trump Media announces $2.5B Bitcoin treasury deal
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