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Trump Media raises $2.44 billion for Bitcoin treasury plan
Trump Media raises $2.44 billion for Bitcoin treasury plan

Time of India

time4 days ago

  • Business
  • Time of India

Trump Media raises $2.44 billion for Bitcoin treasury plan

Trump Media & Technology Group Corp., the company behind Truth Social , raised around $1.44 billion from selling stock at a price of $25.72 per share and raised about $1 billion in convertible bonds , to buy Bitcoin for its treasury. The company's shares rose as much as 7.6% on Friday after it announced the pricing. They were up 2.9% to $21.43 each as of 12:30 p.m. in New York on Friday. Trump Media plans to use the $2.32 billion in net proceeds from the offering for purposes including creating a Bitcoin treasury . The company joins PSQ Holdings, another firm linked to President Donald Trump's family, in looking to expand into Bitcoin treasury. PSQ counts Donald Trump Jr. as a board member, and is one of scores of other companies following Michael Saylor's Bitcoin-buying model at Strategy. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 -0.97% Buy Smart Contract Tracker -2.07% Buy DeFi Tracker -2.08% Buy Web3 Tracker -5.50% Buy NFT & Metaverse Tracker -9.73% Buy TOP COINS (₹) Tether 86 ( 0.23% ) Buy Bitcoin 8,957,932 ( -1.39% ) Buy BNB 57,013 ( -1.55% ) Buy Ethereum 220,097 ( -2.8% ) Buy XRP 188 ( -3.36% ) Buy 'Trump Media is focused on acquiring great assets, and this deal will give us the financial freedom to implement the rest of our strategies,' Trump Media Chief Executive Officer Devin Nunes said in the statement announcing the deal. The deal gives the company more than $3 billion in liquid assets and gives shareholders exposure to Bitcoin, Nunes said. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » The zero-coupon convertible bonds are due in 2028 and have a conversion price of $34.72 per share. Trump Media originally planned to raise as much as $2.5 billion from the deal, the earlier announcement showed. Live Events The transaction adds to a slew of US equity-linked deals in May, led by DoorDash Inc.'s $2.5 billion offering less than a month after sealing a pair of M&A transactions, and Uber Technologies Inc. raising $1.2 billion from a security exchangeable into its shares of self-driving truck firm Aurora Innovation Inc. Both transactions were upsized from their original amount, even though they offered no coupons. The common stock offering joins a surge in sales of new and existing shares in already-public US companies. The volume totals more than $25 billion this month, nearly matching December's $25.3 billion haul, according to data compiled by Bloomberg. and Anchorage Digital will provide custody for Trump Media's Bitcoin treasury, while Yorkville Securities and Clear Street are acting as lead placement agents for the offerings. ETMarkets WhatsApp channel )

'We were debanked': Trump sons reveal what pushed them into crypto venture
'We were debanked': Trump sons reveal what pushed them into crypto venture

Time of India

time5 days ago

  • Business
  • Time of India

'We were debanked': Trump sons reveal what pushed them into crypto venture

At Bitcoin conference 2025, Donald Trump Jr. revealed the real reason behind the Trump family's crypto pivot-not hype, but hardship. He described being 'debanked, de-insured, de-everything,' which he said forced him and Eric Trump to rethink the traditional financial system. Calling it a harsh awakening, Trump Jr. said the experience 'orange-pilled' them both, pushing the family toward embracing cryptocurrency. Show more Show less

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