Seeking Alpha 2025-05-27 05:46:11

Trump Media prepares $3 billion fundraising to spend on crypto - report

U.S. President Donald Trump's company behind the Truth Social app—Trump Media & Technology Group ( NASDAQ:DJT)—is reportedly planning to raise up to $3 billion to invest in cryptocurrencies, The Financial Times reported on Monday, citing sources familiar with the matter. The proposed capital raise would comprise $2 billion in new equity and $1 billion through a convertible bond offering; however, the terms, timing, and size of the capital raise could still change, the report said . The company has rebuffed the Financial Times report, criticizing the media coverage but not providing a direct denial or further details. TMTG's capital round may come before a significant gathering of cryptocurrency enthusiasts and investors in Las Vegas this week, which is anticipated to feature speeches by Trump's crypto tsar David Sachs, Vice President JD Vance, and Trump's sons Donald Jr. and Eric. The initiative comes amid Trump’s pro-crypto policy agenda, including repealing previous regulatory crackdowns and advocating for a U.S. digital asset stockpile. ETFs to track the broader cryptos: ( NASDAQ: ZZZ ), ( BATS: FBTC ), ( NASDAQ: ETHA ), ( NYSEARCA: BLOK ), ( NASDAQ: BITS ). Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion More on Trump Media and Technology Group Trump Media & Technology Group: When Politics Gets A Ticker Symbol Trump Media & Technology Group: Long-Term Outlook Is Overwhelmingly Negative Trump Media & Technology: New ETFs Won't Cut It Trump Media makes Truth+ on-demand content available on Roku TV Trump Media and Technology Group reports Q1 results