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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.
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.
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.
The terms, timing and size of TMTG’s capital raising could still change. Two people familiar with the plans told the Financial…
