The Trump Media and Technology Group, the company behind US President Donald Trump’s Truth Social Platform, is planning to raise $ 3 billion in a mix of equity and convertible bonds to buy Bitcoin and other cryptocurrencies, The Financial Times reported. The move will position the company to follow in the footsteps of crypto treasury companies such as approach.
Trump Media will release $ 2 billion in equity and $ 1 billion in changing bonds, a type of owner that can be converted to equity someday. The size of the increase may change, the aforementioned resources that are familiar to the matter.
Equity is expected to be sold in market prices as close as May 23. On that day, the price of sharing closed at $ 25.72, marking a 4.6% increase in the day. The Capitalization of the Trump Media market is $ 5.7 billion to May 23.
The company adheres to a similar approach to the led by companies such as approach, metaplanet, semler scientific and others, which provides part of their Bitcoin (BTC) funds. Crypto betting provides a fence against inflation and prevents them from becoming “zombie companies,” some of the companies say.
Related: Strategy bags 4,020 Bitcoin as a price short break the $ 110k
Trump’s media move can increase investigation
The move can also result in more investigations towards the growing Trump family businesses. Democratic lawmakers have Pushed back against Bipartisan bills Over dealing with the Trump family’s family, with some play Protests against memecoin dinner Trump posted on May 22.
Trump’s crypto ties included Collections that are not disturbed by the tokenthe official Trump (Trump) and Melania (Melania) Memecoins, Decentralized Finance Platform World Liberty Financial and a dollar-pegged stablecoin. Critics say that Trump’s crypto adventures bring a conflict of interest, especially since he can have an influence on an industry he stands for.
According to the report, Trump moved his 53% part to Trump Media and technology to a changing trust managed by Donald Trump Jr.
Magazine: Crypto adventures of Trump’s crypto raises conflict of interest, insider trading questions
