Trump Media's registration for bitcoin treasury deal becomes effective
FILE PHOTO: Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Trump Media and Technology Group said on Friday that the U.S. Securities and Exchange Commission has declared effective the registration for its bitcoin treasury deal.
The company said it raised about $2.3 billion through a mix of debt and equity agreements with participation from around 50 investors.
It said in May that the bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter.
Several companies, including video game retailer GameStop and Strategy, are adding bitcoin and other cryptocurrencies to their balance sheets to capitalize on rising token prices as the Trump administration embraces digital assets.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Alan Barona)
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