Trump Media & Technology Group plans to raise $3 billion to buy a stockpile of digital assets including Bitcoin, according to a Financial Times report. The firm, which is majority-owned by U.S. President Donald Trump, reportedly plans to rake in $2 billion in fresh equity and $1 billion through a convertible bond sale to fund the purchases.
The firm has deepened its involvement with the crypto industry following Trump’s inauguration, with reports last month suggesting that it was planning the launch of its own crypto token and wallet. Trump’s own ties with the industry have faced scrutiny following his gala dinner for holders of the TRUMP meme coin, with Senators accusing the president of organizing an “orgy of corruption.”
Trump Media is just the latest in a series of firms moving to acquire a Bitcoin treasury, following the well-worn path forged by software firm Strategy. Just today, Strategy announced its latest Bitcoin buy, hoovering up another 4,020 BTC to bring its reserves to $63.7 billion worth, as the cryptocurrency hovers near its all-time high.
Trump Media Plans $3 Billion Raise to Buy Bitcoin, Other Crypto: FT – Decrypt
The Trump family-led company intends to raise $2 billion in equity and $1 billion through convertible bonds, the Financial Times reported.
Strategy Shrugs Off Lawsuit, Buys Another Half Billion in Bitcoin
Strategy—formerly MicroStrategy—got hit with a lawsuit last week over its Bitcoin scheme. Today, it announced it bought more.
Cambodia’s $19 Billion Financial Scam Empire Fueled by Crypto, Says Watchdog Group
A new report by Humanity Research Consultancy has accused Cambodia of supporting criminal networks that leverage crypto.
Crypto Investor Charged With Kidnapping, Torturing Man in NYC Over Bitcoin Password
The New York assault is the latest addition in a growing list of violent attempts to steal crypto through physical coercion.
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