Raising $3 Billion for Crypto? Trump Media Group Strongly Denies the Rumors
TradingKey – Trump Media & Technology Group (DJT) has firmly denied reports claiming it plans to raise $3 billion to invest in cryptocurrency, though its broader crypto-related strategies remain noteworthy.
On May 27, according to Cointelegraph, Trump Media & Technology Group (DJT) refuted a report by the Financial Times, which alleged that the company was planning a $3 billion crypto investment fund.
In response, the company stated: "The Financial Times clearly has some foolish writers listening to even more foolish sources."
On May 26, the Financial Times reported that DJT was allegedly raising $3 billion for a crypto initiative, breaking it down as follows:
- $2 billion through stock issuance
- $1 billion via convertible bonds
While Trump Media has denied the fundraising claims, its interest in the crypto market remains real. Recently, in a shareholder letter, DJT stated: "We are exploring the launch of a Truth Social utility token, initially used for Truth+ subscription payments, with potential expansion into other services within the Truth ecosystem."
Additionally, in early April, Trump Media announced partnerships with:
- Crypto.com, a leading cryptocurrency exchange
- Yorkville America Digital, an asset management firm
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