Trump Media Group denies it’s raising $3B for crypto buys: Report

Description

Trump Media and Technology Group, the company behind US President Donald Trump’s Truth Social platform, has rebuffed a report that it’s planning to raise $3 billion in a mix of equity and convertible bonds to buy Bitcoin and other cryptocurrencies.

Authors

Christopher Tepedino

Publish date

May 26, 2025

Publisher

Cointelegraph

Web URL

https://cointelegraph.com/news/trump-media-group-raise-3b-buy-bitcoin-crypto

Referenced by

Trump Media denies FT report it is raising $3B to invest in cryptocurrencies

Crypto news

News story

The Financial Times reported that Trump Media was planning to issue $2 billion in equity and $1 billion in convertible bonds, a type of asset that can be converted into equity at a later date and that the size of the raise may change. The equity was expected to be sold at market price as of the close on May 23. On that day, shares of Trump Media (DJT) closed at $25.72, marking a 4.6% increase on the day. Trump Media’s market capitalization was $5.7 billion as of May 23.

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If Trump Media implements the reported plan, it would position the company to follow the footsteps of crypto-buying companies like Strategy.

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