Trump Media said $ 400M Share the purchase would not affect Bitcoin Treasury plans
The Trump Media and Technology Group, the company that owns the reality of the social platform, said $ 400-million sharing of the purchase program will not affect its plans to create a Bitcoin treasury.
In a notice on Monday, US media company Donald Trump Says Its Board of Directors has allowed the re -purchase of up to $ 400 million in the usual stock. Stock Buyback does not affect the company’s approach to promote a bitcoin (Btc) Treasury using over $ 2 billion in funds, it said.
The media group first has declined reports It plans to raise nearly $ 3 billion to invest in cryptocurrency, but eventually confirmed a $ 2.5-billion capital fund to buy Bitcoin. According to Monday’s notice, the Bitcoin approach of Trump Media “featured a private placement that offers approximately $ 2.3 billion in combination.”
The US Securities and Exchange Commission (SEC), led by Trump Nominee Paul Atkins, The registration statement has been approved For dealing with Bitcoin by the media company in June. The filing showed $ 2.3 billion for Bitcoin’s investment came from the resale of 56 million shares and 29 million shares tied to the modified notes as part of debt and equity agreements.
Related: Trump’s family company cuts stake with World Liberty Financial by 20%- Report
Trump’s media is also there Applied to launch An area exchanged by the Bitcoin exchange fund (ETF), to which the fact is separate filed in the list and trade sharing a dual ETF tied to Bitcoin and Ether (Eth). The SEC has approved lists of Bitcoin ETF spots since January 2024 and spots Ether ETFs from May 2024.
https://www.youtube.com/watch?v=vkc5qcrvdc0
Bitcoin’s National Stockpile Plan under Trump
Trump was also suggestedThrough an order of the executive executive, the US has established a “strategic bitcoin reserve” and a “digital stockpile asset.” Reserves will hold digital assets who are forgiven to the US government, but Trump’s advisors have suggested other ways of stockpile expansion.
Lawmakers in the US Senate’s permanent subkomite in investigation accused The president of using his position within the government “to enrich cryptocurrency companies” by promoting stockpiles.
Trump’s media announcement arrives on the same day that California senator Adam Schiff Introduced the law aimed at barrier The president of the United States, first family, and other public officials from the release, sponsor or endorsement of digital assets. Trump’s media, under the name of the president, may violate the law along with the suggested approach to Bitcoin if it is submitted.
Magazine: Crypto adventures of Trump’s crypto raises conflict of interest, insider trading questions
