Trump Media Seeks to Raise $3B for Crypto Purchase: FT

Trump Media and Technology Group (DJT), the corporate that operates the social media website Truth Social, is planning to increase $3 billion to purchase crypto belongings, the Financial Times reported on Monday.

The capital increase, which is alleged to mix an fairness increase and convertible bond providing, may very well be introduced at this week’s Bitcoin 2025 occasion held in Las Vegas, in accordance to the report.

The information comes as a rising roster of public companies are including cryptocurrencies, predominantly bitcoin

, to their stability sheets, taking a web page from Michael Saylor-helmed Strategy’s (MSTR) more and more well-liked playbook. The software program agency has turn out to be the world’s largest company holder of the main crypto asset, accumulating over $62 billion in BTC in its treasury by financing the purchases by way of a mixture of fairness and debt issuances.

Trump Media shared plans earlier this 12 months to launch a monetary companies platform specializing in crypto and customised exchange-traded funds. It additionally stated it needs to associate with crypto trade Crypto.com to launch the ETF merchandise.

Read extra: Strategy Buys 4,020 Bitcoin for $427M, Brings Total Stash to Over 580,000 BTC