Trump Media to raise $3 billion to spend on cryptocurrencies

FILE PHOTO: Trump’s societal media firm, Trump Media & Technology Group, plans to rise astir $3 cardinal to walk connected cryptocurrencies specified arsenic bitcoin. | Photo Credit: Reuters

U.S. President Donald Trump's societal media firm, Trump Media & Technology Group, plans to rise astir $3 cardinal to walk connected cryptocurrencies specified arsenic bitcoin, the Financial Times reported connected Monday, citing radical acquainted with the matter.

The institution that runs the Truth Social streaming and societal media level aims to rise $2 cardinal successful caller equity and $1 cardinal much done a convertible bond, the study said.

The terms, timing and size of the company's superior rise could inactive change, the FT study said.

Trump Media Group did not instantly respond to a Reuters petition for comment.

Published - May 27, 2025 01:47 p.m. IST