Trump Media & Technology Group Reportedly Eyes $3 Billion Crypto Investment
The Trump Media & Technology Group (TMTG), the company behind social media platform Truth Social and Truth+, is reportedly planning a significant move into the cryptocurrency space. According to the Financial Times, TMTG aims to raise $3 billion to invest in cryptocurrencies.
The funding is expected to come from two sources: $2 billion in new capital and $1 billion through the sale of convertible notes. However, sources familiar with the matter told the Financial Times that the plan is still subject to change, including its terms and timeline.
Potential Announcement at Bitcoin Conference
Speculation suggests that TMTG might announce this capital-raising initiative at the Bitcoin Conference in Las Vegas. Eric and Donald Trump Jr., along with Vice President JD Vance, are expected to speak at the event.
TMTG has responded to the Financial Times report with criticism, calling the authors “fools” and their sources “even bigger fools,” according to a statement cited in the article.
Truth.Fi and Digital Asset Strategy
This potential investment follows TMTG’s recent foray into digital assets. The company intends to acquire cryptocurrencies and exchange-traded funds (ETFs) through its Fintech arm, Truth.Fi. In January, TMTG announced the launch of Truth.Fi, with plans to invest up to $250 million in digital assets, including Bitcoin, other cryptocurrencies, ETFs, and separately managed accounts (SMAs), as part of a broader diversification strategy.
While the products are scheduled to launch in 2025, TMTG is already working to partner with Crypto.com as the custodian for these investments.
In April, Trump Media also announced plans to launch a native utility token and a digital wallet as part of a broader strategy to monetize Truth Social and the Truth+ streaming platform.
- TMTG reportedly plans to raise $3 billion to purchase cryptocurrencies.
- The funding would consist of $2 billion in new capital and $1 billion from convertible note sales.
- The company previously shared plans to acquire cryptocurrencies through its Truth.Fi platform.
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