[UNITED STATES] Trump Media & Technology Group, the social media firm founded by former U.S. President Donald Trump, is looking to raise approximately US$3 billion to invest in cryptocurrencies including bitcoin, according to a Financial Times report on Monday, citing individuals familiar with the matter.
The company is reportedly aiming to secure US$2 billion in new equity financing and an additional US$1 billion via a convertible bond. However, the FT noted that the terms, timeline, and final amount of the fundraising effort remain subject to change.
In response to a Reuters inquiry, Trump Media labeled both Reuters and the Financial Times as “fake news” outlets. The White House did not immediately comment.
Trump Media, best known for operating the social media and streaming platform Truth Social, has drawn considerable attention with its pivot toward the digital asset space. The strategy appears to center on leveraging Trump’s substantial political and public influence to attract investment and user engagement.
Beyond social media, the company has been exploring potential mergers and acquisitions as part of a broader effort to diversify into financial services. Sources close to the firm say it is actively in discussions with financial institutions and technology companies, aiming to expand its footprint in the rapidly evolving cryptocurrency sector.
Last month, Trump Media finalized a binding agreement to roll out a range of retail investment products, including cryptocurrency and exchange-traded funds, designed to align with Trump’s “America First” economic agenda.
This initiative has stirred debate among market analysts and regulators. Critics argue that aligning financial products with a political ideology could influence investor behavior in ways that may not align with broader market principles. Supporters, however, view it as an innovative strategy that capitalizes on Trump’s loyal base and their enthusiasm for his policies.
The company’s fundraising plans are expected to be unveiled ahead of a major cryptocurrency conference this week, the FT reported. The event is set to feature key figures including U.S. Senator JD Vance and Trump’s sons, Donald Trump Jr. and Eric Trump.
The gathering is likely to draw widespread attention from both the crypto industry and media observers, offering Trump Media a platform to promote its vision and attract additional backing. The involvement of prominent political figures is expected to boost the event’s visibility and could play a role in shaping public perception of the firm’s strategic direction.
Meanwhile, bitcoin rose 1.5%—its largest single-day move in three days and biggest gain in four.
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