Trump Media Plans $3 Billion Raise to Buy Bitcoin, Other Crypto: FT

Trump Media & Technology Group plans to raise $3 billion to purchase various digital assets, the Financial Times reported today, citing six people familiar with the matter.

If the deal comes to fruition it would be yet another sign of the company’s—and its owners’—deepening enmeshment with the cryptocurrency industry. 

The Truth Social owner is aiming to rake in $2 billion in fresh equity and $1 billion through a convertible bond sale, the FT reported Monday. The final details of the planned raises, including their size and timing, are subject to change, according to the FT. 

TMTG did not immediately respond to Decrypt’s request for comment.