- Trump Media denied reports of a US$3B Bitcoin buy, calling the Financial Times article “fiction” and mocking its sources, stating no such funding or crypto plans have been announced or filed.
- The alleged raise would rival the firm’s total value, and any large Bitcoin purchase could intensify scrutiny, especially given Trump’s pro-crypto stance and recent memecoin-linked events.
Trump Media and Technology Group says a Financial Times story claiming it will raise US$3B (AU$4.6B) to buy Bitcoin is fiction.
The company told the paper:
Apparently the Financial Times has dumb writers listening to even dumber sources.
Trump Media and Technology Group according to the Financial Times
The FT article, citing six unnamed sources, said Trump Media planned to sell US$2B (AU$3.08B) in new stock and US$1B (AU$1.56B) in convertible notes, echoing the “buy-Bitcoin-with-equity” model popularised by Strategy and other treasury-crypto converts.
But no supporting documents surfaced, and Trump Media has issued no filing. If the raise were real, it would vault the firm into the small club of public companies parking corporate cash in BTC.
Nothing Official
DJT, Trump Media’s stock, closed at US$25.72 (AU$39.71) today, valuing the company at US$5.7B (AU$8.79B); a US$3B raise would rival its entire market cap.
Any large crypto buy would sharpen political focus. President Trump has pushed a pro-Bitcoin agenda, championing US mining, minting NFTs, and hosting a “memecoin dinner” at Mar-a-Lago in May, which consisted mostly of offshore buyers, and, of course, none other than Justin Sun.
Democrats have already protested the May “memecoin dinner”, and are now pressuring colleagues to stall bipartisan crypto bills until the president’s financial ties are clearer.
Adding to the scrutiny, the FT also reported that Trump has moved his 53 % stake in Trump Media into a revocable trust controlled by Donald Trump Jr., a legal hand-off that does little to calm conflict-of-interest concerns.
After winning re-election to the White House last year, Trump transferred his 53 per cent stake in TMTG, currently worth about $3bn, to a revocable trust overseen by his son Donald Jr, who has sole investment and voting power over the shareholdings held by the entity.
The Financial TimesRelated: Bitcoin Hits $111k, Sets New All-Time High, But Analysts Say It Ain’t Done Yet
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