Trump media group plans to raise $3bn to spend on cryptocurrencies

Article

Description

The Trump family media company plans to raise $3bn to buy cryptocurrencies such as bitcoin, in a bet on the kind of digital assets that have been championed by the US president’s administration.

Authors

Antoine Gara

Oliver Barnes

Publish date

May 26, 2025

Web URL

https://www.ft.com/content/cc55d091-0b28-40bb-a11c-e32d4e121ca3

Referenced by

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

Crypto news

News story

Trump Media & Technology Group, which is behind the Truth Social app and controlled by the president’s family, aims to raise $2bn in fresh equity and another $1bn via a convertible bond, according to six people briefed on the matter.

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TMTG’s capital raising could be announced ahead of a big meeting of crypto investors and advocates in Las Vegas this week, where vice-president JD Vance, Trump’s sons Donald Jr and Eric, and Trump’s crypto tsar David Sacks are expected to speak.

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