Latest news with #BitcoinTreasury
Hamilton Spectator
21 hours ago
- Business
- Hamilton Spectator
Bitcoin Treasury Corporation Announces Completion of Initial Bitcoin Acquisition Phase and Now Holds a Total of 771.37 Bitcoin
Not for distribution to United States news wire services or for dissemination in the United States. TORONTO, June 27, 2025 (GLOBE NEWSWIRE) — Bitcoin Treasury Corporation (TSXV:BTCT) ('Bitcoin Treasury' or the 'Corporation'), is pleased to announce that it has completed the initial phase of its Bitcoin accumulation plan in alignment with its core strategy to accumulate Bitcoin as a principal treasury asset. The Corporation acquired 478.57 Bitcoin for a total purchase price of CAD$70 million. The Corporation now holds 771.37 Bitcoin on its balance sheet. This results in a starting Bitcoin per Share ('BPS') of approximately 0.0000634. BPS is calculated on a fully diluted basis, accounting for the convertible debentures but excluding warrants. Bitcoin Treasury Corporation will continue to accumulate Bitcoin as part of its broader strategy to build long-term shareholder value. The Corporation plans to deploy its Bitcoin holdings through institutional lending and liquidity services, offering counterparties access to capital while maintaining a strong focus on financial security and risk management. The Corporation views Bitcoin not only as a long-term reserve asset, but as a foundational pillar of its business model and revenue strategy. Through disciplined corporate finance and institutional-grade Bitcoin services, the Corporation aims to grow BPS and redefine corporate treasury management for the digital age. About Bitcoin Treasury Bitcoin Treasury Corporation is a Canadian-based company focused on institutional-grade Bitcoin services, initially offering Bitcoin-denominated loans. Bitcoin Treasury's core strategy is to build shareholder value through the strategic accumulation and active deployment of Bitcoin. Recognizing Bitcoin's finite supply and long-term potential, the Corporation intends to maintain a robust treasury position while supporting the development of its service offerings. For further information, please contact: Bitcoin Treasury Corporation Elliot Johnson, Chief Executive Officer Phone: 416-619-3403 Email: ejohnson@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Statements This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects' or 'does not expect', 'is expect', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', or variations of such words and phrases) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: business integration risks; the Corporation's operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; the Corporation operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of the Corporation; evolving cryptocurrency regulatory requirements and the impact on the Corporation's business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation's business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation's business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the requirements that accompany being a publicly traded company may put a strain on the Corporation's resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; liquidity risk; leverage risk; and share price fluctuations. Although management of the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management's estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law. The TSXV has neither approved nor disapproved the contents of this news release.
Yahoo
2 days ago
- Business
- Yahoo
Amazing AI PLC Announces Bitcoin Treasury Policy Update
LONDON, GB / / June 27, 2025 / Amazing AI plc (AQSE: AI) - AAI, a global fintech group specialising in online consumer loans, announces an update to its Bitcoin Treasury Policy. AAI is in discussions with one of the world's largest regulated custodians of bitcoin who are highly experienced in setting up Bitcoin Treasuries and act for over 1,500 institutional clients in over 50 countries and hold over 100 billion USD of assets on their platform as custodian. AAI's proposed custodian, which has the ability to buy at lower spreads over-the-counter compared to crypto exchanges, will facilitate all purchases of bitcoin and provide secure cold wallet storage for AAI's bitcoin, avoiding crypto exchange hot wallet risk. Once engaged, the custodian will be able to provide financing against AAI's bitcoin providing AAI with the benefit of any appreciation in the value of the Bitcoin whilst also allowing it to leverage its bitcoin asset 50%. This can then be used to drive greater lending resources in its USA lending operation, which currently charges 59.9% per annum in the state of Georgia, and, in turn, revenues and profits. By way of example, if AAI was able to purchase £20 million of bitcoin in its Bitcoin Treasury, it could potentially borrow up to £10 million to lend out to consumers in Georgia, USA which the Board anticipate could be able to generate up to £5.99 million in additional recurring revenue to AAI per annum. In addition, AAI is currently incorporating a 100% owned subsidiary company in the bitcoin friendly jurisdiction of Mauritius. This entity will serve a dual purpose for both acting as the entity that will buy and hold bitcoin and for potential future expansion into consumer lending emerging markets utilising fiat. The Company will continue to focus on delivering its organic growth strategy centered on consumer lending and on exploring AI finance related services whilst growing a bitcoin treasury over the shorter-term. The Company intends to strategically allocate capital generated from its business operations and future fundraisings, with the aim of maintaining a treasury consisting of both traditional cash reserves and bitcoin. The Company is exploring potential fundraising opportunities for this purpose, following which, the Directors anticipate being in a position to commence bitcoin acquisitions in July 2025. Relevant material changes to its bitcoin treasury holdings and further updates on the Bitcoin Treasury Policy will be announced by the Company in a timely manner. Paul Mathieson, CEO of Amazing AI plc said,"The key difference between Amazing AI plc and most other companies with Bitcoin Treasuries is that we have an underlying consumer loans business that will be able to leverage up the benefits of Bitcoin Treasury by utilising borrowed funds against our Bitcoin Treasury to increase revenue growth in our existing US lending business, future potential Philippines and African lending businesses and our best-of-breed AI finance related services business." This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement. Enquiries: Amazing AI plc Paul Mathieson - Chief Executive Officer iecenquiries@ Cairn Financial Advisers LLP (AAI Corporate Adviser) Ludovico Lazzaretti +44 (0) 20 7213 0880 Jo Turner Oberon Capital (AAI Corporate Broker) Adam PollockNick LoveringJessica Cave +44 (0) 203 179 5300 Professional/institutional investors can contact Oberon Capital on corporatesales@ About Amazing AI plcAmazing AI plc (AAI) is an AI driven, consumer finance fintech innovator that leverages its regulated licensed lending and collections operations, experience and network to distribute best-of-breed AI finance related services globally, specifically focused on lending, collections and debt financing services. AAI operates under the consumer brand Mr. Amazing Loans in the United States with state consumer lending licenses/certificates of authority and an established track-record of lending, collections and regulatory compliance for over 14 years. AAI intends to investigate further utilisation of AI in its own US consumer lending operational processes and seek additional strategic collaborations, joint ventures and acquisitions in the AI sector globally, including in AI deception detection services to increase underwriting and collections performance. AAI also plans to investigate the potential to conduct its own enhanced product/service development, territory customisation and new service initiatives. For more information please visit: Important Notices Amazing AI plc (the "Company") intends to hold treasury reserves and surplus cash in bitcoin. Bitcoin is a type of cryptocurrency or crypto asset. Whilst the Board of Directors of the Company considers holding bitcoin to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the "Financial Conduct Authority" or "FCA") considers investment in bitcoin to be high risk. At the outset, it is important to note that an investment in the Company is not an investment in bitcoin, either directly or by proxy. However, the Board of Directors of the Company consider bitcoin to be an appropriate store of value and growth for the Company's reserves and, accordingly, the Company is materially exposed to bitcoin. Such an approach is innovative, and the Board of Directors of the Company wish to be clear and transparent with prospective and actual investors in the Company on the Company's position in this regard. The Company is neither authorised nor regulated by the FCA and cryptocurrencies (such as bitcoin) are unregulated in the UK. As with most other investments, the value of bitcoin can go down as well as up, and therefore the value of bitcoin holdings can fluctuate. The Company may not be able to realise any future bitcoin exposure for the same as it paid in the first place or even for the value the Company ascribes to bitcoin positions due to these market movements. As bitcoin is unregulated, the Company is not protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme. Nevertheless, the Board of Directors of the Company has taken the decision to invest in bitcoin, and in doing so is mindful of the special risks bitcoin presents to the Company's financial position. These risks include (but are not limited to): (i) the value of bitcoin can be highly volatile, with value dropping as quickly as it can rise. Investors in bitcoin must be prepared to lose all money invested in bitcoin; (ii) the bitcoin market is largely unregulated. There is a risk of losing money due to risks such as cyber-attacks, financial crime and counterparty failure; (iii) the Company may not be able to sell bitcoin at will. The ability to sell bitcoin depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay; and (iv) crypto assets are characterised in some quarters by high degrees of fraud, money laundering and financial crime. In addition, there is a perception in some quarters that cyber-attacks are prominent which can lead to theft of holdings or ransom demands. The Board of Directors of the Company does not subscribe to such a negative view, especially in relation to bitcoin. However, prospective investors in the Company are encouraged to do their own research before investing. Caution Regarding Forward Looking StatementsCertain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Amazing AI PLC View the original press release on ACCESS Newswire
Yahoo
5 days ago
- Business
- Yahoo
Bitcoin Treasury Corporation Announces Closing of Amalgamation and Concurrent Financing
TORONTO, June 23, 2025 (GLOBE NEWSWIRE) -- Bitcoin Treasury Corporation ('Bitcoin Treasury' or the 'Corporation'), further to its press releases dated May 22, 2025, May 30, 2025, and June 17, 2025, is pleased to announce that it has completed the previously announced amalgamation, pursuant to which 2680083 Alberta Ltd. ('268') and Bitcoin Treasury Corporation (pre-amalgamated entity) ('BTCT') have amalgamated and will continue as one corporation, that will carry on the business of BTCT (the 'Transaction'). The Corporation is also pleased to announce that a listing application in respect of the Corporation has been submitted to the TSX Venture Exchange (the 'TSXV') to list the common shares of the Corporation (the 'Bitcoin Treasury Shares'). Listing of the Bitcoin Treasury Shares is subject to the TSXV providing final approval thereof (the 'Listing'). Concurrent Financing The Corporation is also pleased to announce that, further to its press release dated May 30, 2025 and prior to the close of the Transaction, BTCT closed a concurrent brokered private placement of 8,407,350 equity subscription receipts and 25,000 convertible debenture subscription receipts (the 'Convertible Debenture Subscription Receipts') at a price of $1,000 per Convertible Debenture Subscription Receipt and a non-brokered private placement of 1,166,000 equity subscription receipts (the 'Equity Subscription Receipts') at a price of $10.00 per Equity Subscription Receipt for aggregate gross proceeds of $120,733,500 (collectively, the 'Concurrent Financing'). Canaccord Genuity and Stifel acted as co-lead agents, together with National Bank Financial Markets, BMO Capital Markets, CIBC Capital Markets, Wellington-Altus, Greenhill, a Mizuho affiliate, Research Capital, Haywood Securities, ATB Capital Markets, Independent Trading Group, Richardson Wealth and Ventum Capital Markets (collectively, the 'Agents') in connection with the Concurrent Financing. Prior to the close of the Transaction, each Equity Subscription Receipt was converted into one common share of BTCT ('BTCT Share') and each Convertible Debenture Subscription Receipt was converted into one convertible debenture of BTCT ('BTCT Convertible Debenture') on a one for one basis. In connection with the closing of the Concurrent Financing and as consideration for their services, BTCT paid to the Agents cash fees of $5,979,000. Share Consolidation Immediately prior to the completion of the Transaction, 268 completed a consolidation of the common shares of 268 ('268 Shares') based on a ratio of one (1) post-consolidation common share for each 51.66712593 pre-consolidation common shares, resulting in an aggregate of 74,999 268 Shares. The Transaction Pursuant to the amended and restated amalgamation agreement between 268 and BTCT dated June 16, 2025, among other things, (i) 268 and BTCT have amalgamated pursuant to the provisions of the Business Corporations Act (Alberta); (ii) each holder of BTCT Shares received one Bitcoin Treasury Share in exchange for each BTCT Share held by such holder and the BTCT Shares were cancelled by the Corporation; (iii) each holder of BTCT Convertible Debentures or warrants of BTCT (the 'BTCT Convertible Securities') received one convertible debenture in the Corporation or one warrant of the Corporation, as the case may be, in exchange for each BTCT Convertible Security held by such holder and the BTCT Convertible Securities were cancelled by the Corporation; (iv) each holder of 268 Shares received one Bitcoin Treasury Share in exchange for each 268 Share held by such holder and the 268 Shares were cancelled by the Corporation; and (v) the Corporation adopted the equity incentive plan of BTCT. Bitcoin Treasury Share Offering Upon final approval from the TSXV of the Listing and the TSXV's issuance of a 'list and halt' bulletin, the Corporation intends to complete a brokered offering of up to 426,650 Bitcoin Treasury Shares at a price of $10.00 per Bitcoin Treasury Share (the 'Offered Shares'). This, combined with the Concurrent Financing, will provide aggregate gross proceeds of $125,000,000. The Offered Shares will be issued after the Bitcoin Treasury Shares commence trading on the TSXV, and such Bitcoin Treasury Shares shall immediately be halted. Such Offered Shares will be eligible for investment in RRSPs, RESPs, RRIFs, RDSPs, TFSAs, FHSAs and DPSPs, but will be subject to a statutory hold period of four months plus one day from the date the Offered Shares are issued, in accordance with applicable Canadian securities laws. The offering of the Offered Shares is expected to close on or about the week of June 23, 2025. In connection with the closing of the Offered Shares and as consideration for their services, BTCT anticipates a payment to the Agents a cash commission of $178,950. For further information, please contact: Bitcoin Treasury CorporationElliot Johnson, Chief Executive OfficerPhone: 416-619-3403 Email: ejohnson@ Note Regarding Forward-Looking Statements This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the Listing of Bitcoin Treasury Shares; the offering of Offered Shares; the anticipated closing date of the Offered Share offering; receipt of a TSXV list and halt bulletin; the anticipated Agents fees relating to the Offered Share offering; expectations related to Bitcoin and its use in the future; and future development plans of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: ability to close the Bitcoin Treasury Share Offering on the proposed terms or at all, the synergies expected from the Transaction not being realized; business integration risks; the Corporation's operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; BTCT operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of BTCT; evolving cryptocurrency regulatory requirements and the impact on BTCT's business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation's business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation's business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the amalgamation agreement may be terminated by 268 or BTCT in certain circumstances; there can be no certainty that all conditions precedent to the Transaction will be satisfied; BTCT and 268 may incur costs even if the Transaction is not completed; the requirements that accompany being a publicly traded company may put a strain on the Corporation's resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; uncertainty of use of proceeds; liquidity risk; leverage risk; and share price fluctuations. Although management of BTCT believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date of this news release, and BTCT does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management's estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law. Completion of the Listing is subject to a number of conditions, including but not limited to, TSXV acceptance. Investors are cautioned that, except as disclosed in the filing statement filed on June 17, 2025, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. The TSXV has neither approved nor disapproved the contents of this news in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
95% of Meta shareholders want nothing to do with a Bitcoin Treasury
95% of Meta shareholders want nothing to do with a Bitcoin Treasury originally appeared on TheStreet. At Meta Platforms' annual shareholder meeting on May 30, shareholders overwhelmingly opposed a proposal to add Bitcoin to the platform's balance sheet, a trend that has gained prevalence in recent months. Shareholder Proposal 13, made by investor Ethan Peck representing the National Center for Public Policy Research, included a recommendation to convert some of the company's $72 billion in cash and marketable securities into Bitcoin as an inflation hedge and due to the lower yields in bonds. However, the vote tally showed that 4,980,828,562 shares (around 95%) were cast against the proposal, with only 3,916,871 cast in favor of it. Additionally, 8,857,588 shares were abstained from, and 204,772,865 were counted as broker non-votes. "While we are not opining on the merits of cryptocurrency investments compared to other assets, we believe the requested assessment is unnecessary," stated Meta's board. According to Bitcoin News, at Bitcoin 2025, Matt Cole, CEO of Strive Asset Management, stated, "You have already done step one. You have named your goat Bitcoin," he said. "My ask is that you take step two and adopt a bold corporate bitcoin treasury strategy," addressing Meta CEO Mark Zuckerberg. Meta's announcement falls in line with what other tech giants, most notably Microsoft and Amazon, have already done by rejecting any requests to add Bitcoin to their treasury reserves. However, Meta has begun to re-enter the cryptocurrency market, with research into integrating stablecoins like USDC and USDT into its platforms for content creator payments and cross-border transactions, according to Forbes. However, Andy Stone, Meta Communications Director, posted on X saying, "To be clear: as Mark said (and as the story notes), Diem is 'dead." There is no Meta stablecoin," while referring to the Libra Association, which was trying to create a stablecoin-like payments system back in 2019. At press time, Meta's stock is trading at $668.17, up over 3.19% in the last 24 hours. 95% of Meta shareholders want nothing to do with a Bitcoin Treasury first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Gizmodo
27-05-2025
- Business
- Gizmodo
Trump Media to Buy $2.5 Billion in Crypto to Create ‘Bitcoin Treasury'
Trump Media & Technology Group, the company that owns President Donald Trump's Truth Social platform, announced plans Tuesday to buy about $2.5 billion in cryptocurrencies to create what it calls a 'bitcoin treasury.' The company plans to raise the money by selling $1.5 billion in common stock and $1 billion in convertible debt to 50 investors, according to a press release. The news, first reported by the Financial Times as $3 billion before Trump Media issued a press release, comes after President Donald Trump held a dinner for some of the largest investors in his own cryptocurrency, $TRUMP, dubbed a 'memecoin,' because it has no practical uses beyond speculation. Trump spent just 20 minutes at the dinner, according to several reports and disappointed attendees. and Anchorage Digital will actually hold the bitcoin for Trump Media, according to a press release. Trump Media has already launched a finance company called in February and will offer an ETF that's supposed to be an alternative to so-called 'woke' investing, as Bloomberg News has put it. 'We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,' Trump Media CEO Devin Nunes said in a statement filled with the type of buzzwords and right-wing grievance the crypto industry is known for. 'Our first acquisition of a crown jewel asset, this investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms, and will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+,' Nunes continued. Truth+ is the company's new video streaming channel filled with low-rent, far-right content. But pivoting to crypto makes a lot of sense now that Trump is again the most powerful person in the country. 'It's a big step forward in the Company's plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,' Nunes concluded. Trump's cryptocurrency endeavors are widely considered to be the most corrupt actions of any sitting American president of the modern era. The president makes money in transaction fees whenever his coin is bought and sold, and the crypto has contributed billions of dollars to his family's net worth, according to CBS News. Trump's crypto dinner last week was attended by Justin Sun, a 34-year-old crypto billionaire who was under investigation by the SEC until Trump took office in January. Sun, who was born in China and is currently based in Hong Kong, was reportedly nervous to travel to the U.S. during President Joe Biden's tenure over concerns he'd be arrested on SEC allegations he manipulated the market for his TRON cryptocurrency. A guest list for the dinner was never released, but the New York Times was able to figure out the identities of other attendees, including OAN media personality Caitlin Sinclair and former NBA star Lamar Odom, along with a host of other people from the world of crypto. Trump was previously skeptical of cryptocurrencies but had an about-face during the 2024 presidential campaign when he fully embraced the world of fake money. Members of the Trump regime are expected to speak at a crypto conference in Las Vegas this week alongside President Trump's family members. Vice President JD Vance and 'crypto czar' David Sacks are slated to attend with the president's sons Don. Jr. and Eric Trump. The price of bitcoin was mostly steady on the news of Trump Media's plans, holding at around $109,287, according to CoinMarketCap. Bitcoin's price is hovering around its all-time high, which was first eclipsed last week before some modest pullback in the price. Trump's cryptocurrency $TRUMP ticked up about 1% to $12.77 on Tuesday. Trump's coin is down considerably since it reached an all-time high of about $75, on Jan. 19, the day before Trump was inaugurated for a second time. Trump Media's stock price (TMTG) plunged 10% on Tuesday morning.
