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

Unlock FREE White House Watch Newsletter

Washington, Trump’s second word for business and the world is your guide for that

Trump plans to increase $ 3 billion to buy cryptocurrency like Family Media Agency Bitcoin, betting on the types of digital resources that the US President’s administration has.

The Trump Media and Technology Group, which is behind the true social application and controlled by the president’s family, aims to collect $ 2 billion in the fresh equity and to collect $ 1 billion with a convertible bond, six people were briefed on this topic.

Can be announced before a large meeting of TMTG capital raising Crypto This week, investors and lawyers in Las Vegas, where vice-president JD Vans, Trump’s son Donald Jr. and Eric and Trump’s Crypto Jar David shot are expected to speak.

Terms, time and size of TMTG capital growth may still vary. Two people familiar with the plan told the Financial Times that the proposal was extended in recent weeks due to strong demand.

TMTG said in a statement that “obviously dumb authors in the Financial Times are listening to dense sources” but no more commented. Representatives of Donald Trump Jr. did not respond to the comment. A White House spokesman declined to comment.

This plan is the latest example of pushing the Trump family cryptocurrency, which has expressed concern over the conflict of interest. The President has promised to make the United States the “Crypto capital of the world”.

His interest in Crypto encouraged a wave of delmeting to capture the revival in the cryptocurrencies. The price of Bitcoin was raised to a record height of $ 109,000 last week.

Like the method of TMTG with capital raising Used by strategiesPreviously known as microstratezi, a former software company whose market value has increased by more than $ 100 billion after using Debt Own and Equity offers to buy billions of dollars in Bitcoin.

The raising of secondary shares will be operated on the terms of the market, which means shares are expected to be sold to their prices at the end of the trading on Friday. TMTG shares have closed $ 25.72 or about 6 billion dollars on Friday market value.

In the case of the involvement of the Trump family in Crypto included an NFT trading card, Two memicoinAnd Crypto Mining Venture is the American Bitcoin and Stabiline Back World Liberty Financial Steks.

TMTG also plans to launch an exchange-trade fund focusing on cryptocurrency. Last week, Trump hosted a personal gala dinner for top investors in his resort outside Washington.

Clearstreet and BTIG brokers are among those who can act as a underwright in the agreement, two people said.

After winning the re -election in the White House last year, Trump shifted his 5 percent shares to TMTG as a $ 3 billion, in a withdrawal of his son Donald Jr., who has the only investment and voting capacity under the entity.

Commerce Secretary Howard Lutnik’s son Brandon Lutnik made an agreement to create a vehicle called Twenty -one Capital in a $ 3.6 billion deleted $ 3.6 billion associated with Tether and Softbank last month.

Cryptocurrency Farm Ripol also deals a $ 1.25 billion to purchase the digital currency-centered Prime Brokez Farm Hidden Road last month, it is a bet that institutional investors will move forward under Crypto under the Trump administration.

Art officials told FT that a wave of a similar crypto-centric contract, especially among the blank check companies, is expected in the coming weeks.

Alex Rogers’ Additional Report in Washington