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Trump Media and Expertise Group has denied a Monetary Occasions report that it plans to lift $3 billion to purchase Bitcoin and different cryptos, slamming its ”dumb writers listening to even dumber sources.”
That’s after the newspaper reported on Could 26 that the corporate was seeking to elevate the capital via a mixture of fairness and convertible bonds, citing six folks the outlet claimed have been briefed on the matter.
FT Mentioned Trump Media To Increase $2B In Fairness, $1B In Convertible Bonds
In keeping with the report, Trump Media was planning to challenge $2 billion in fairness and $1 billion in convertible bonds for the overall $3 billion elevate.
The fairness was anticipated to be offered at market worth on the closing worth for Trump Media (DJT) shares on Could 23. In the course of the buying and selling session, the corporate’s inventory jumped over 4% to shut the day at $25.72, pushing the corporate’s market capitalization to $5.7 billion, in response to Google Finance information.
Had Trump Media raised the capital and acquired Bitcoin and crypto because the Monetary Occasions report mentioned, the corporate would have joined the rising variety of public companies which have added BTC to their reserves. Presently, Technique leads the best way with its holdings of 576,230 BTC, in response to BitcoinTreasuries.
Trump’s Crypto Involvement Being Scrutinized
If Trump Media had certainly purchased Bitcoin, it will have resulted in much more scrutiny over the household of US President Donald Trump’s involvement in crypto.
That’s after Trump himself hosted a VIP dinner for the highest 220 holders of his TRUMP meme coin. Senator Elizabeth Warren known as the occasion an “orgy of corruption.”
Honored to be on the Trump Crypto dinner with @GetTrumpMemes
Going to be an incredible night time! pic.twitter.com/H4fBZbtxKf
— Jack (@0xLeoInRio) Could 22, 2025
A number of lawmakers have additionally raised issues over potential conflicts of curiosity concerning Trump’s crypto ventures, saying they might profit from his capacity to affect crypto regulation.
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