The move echoes similar steps taken by other crypto treasury companies, but could lead to increased scrutiny of Trump’s crypto investments.
Update (May 26, 9:27 pm UTC): This article has been updated to include a statement from Truth Media and Technology Group.
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 would position the company to follow the footsteps of crypto treasury companies like Strategy.
In a statement to the FT, the company denied any plans for a Bitcoin treasury. “Apparently the Financial Times has dumb writers listening to even dumber sources,” it reportedly said. Cointelegraph has reached out for further comment, but has not received a response at the time of publication.
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