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Time of India
4 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 )
Time of India
6 days ago
- Business
- Time of India
Vance urges crypto industry to stay involved in politics as he touts Trump administration's record
Vice President JD Vance praised the cryptocurrency industry Wednesday and urged it to remain active in U.S. politics and policymaking, highlighting the Trump administration 's close ties to a deep-pocketed industry that's become a powerful force in Washington. Speaking at a bitcoin conference in Las Vegas, Vance urged the crypto executives and enthusiasts to keep pressure on Congress to pass pro-crypto legislation supported by the White House. "We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens," Vance said in his address. "But if we fail to create regulatory clarity now, we risk chasing this $3 trillion industry offshore in search of a friendly jurisdiction." Crypto Tracker TOP COIN SETS DeFi Tracker 7.67% Buy Smart Contract Tracker 0.99% Buy BTC 50 :: ETH 50 0.75% Buy Web3 Tracker -3.31% Buy NFT & Metaverse Tracker -4.91% Buy TOP COINS (₹) Ethereum 236,402 ( 4.71% ) Buy BNB 58,857 ( 0.58% ) Buy Tether 86 ( -0.05% ) Buy XRP 197 ( -0.19% ) Buy Bitcoin 9,261,838 ( -0.52% ) Buy Vance's speech comes after Trump promised to make the U.S. the "crypto capital of the planet" when he addressed the same bitcoin conference in Nashville last year in the middle of the presidential campaign. The crypto industry, which felt unfairly attacked by the Biden administration, spent heavily to help Trump and pro-crypto lawmakers win election. 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 » Vance praised how quickly the crypto industry was able to organize and influence U.S. politics during last year's election, giving special credit to Cameron and Tyler Winklevoss , the billionaire founders of the crypto exchange Gemini. Live Events "You chose to speak up and you chose to get involved and I believe you changed the direct trajectory of our country because of it," Vance told the crowd gathered at the Venetian Hotel. Vance hailed crypto as a hedge that can help conservative populists protect themselves against bad politicians, overly aggressive regulators and unethical elites. He predicted its continued assimilation into the financial mainstream and said it was strategically important for the U.S. to be a world leader in the industry, noting that the Chinese government is hostile to crypto. Vance also touted the Trump administration's record at fulfilling the campaign promises made last year. As president, Trump has established a strategic bitcoin reserve for the federal government and pardoned Ross Ulbricht, the founder of Silk Road, a black market website that was key to the early growth of bitcoin. Trump has also staked his administration with outspoken crypto backers while his administration has undone or paused several enforcement actions taken against large crypto companies. Several other Trump officials are speakers at the bitcoin conference, as are his sons Don Jr. and Eric. The president and his family's use of crypto as a platform to make money for the Trump brand has drawn criticism from Democrats and even crypto enthusiasts as corrupt and unseemly. The Trump family holds about a 60% stake in World Liberty Financial , a crypto project that recently launched its own stablecoin, a fast-growing form of cryptocurrency whose values is often tied to the U.S. dollar. The U.S. Senate advanced legislation earlier this month that creates a federal framework to regulate stablecoins , a bill that Vance said the Trump administration wants passed into law quickly. Trump's media company announced Tuesday that it was raising $2.5 billion to buy bitcoin, the world's oldest and most popular cryptocurrency. The president and the first lady have also launched their own meme coins, with Trump recently attending a dinner for some of his coins' biggest investors. Eric and Don Jr., who are running the Trump Organization while their father is president, have also recently announced they are partnering with an existing firm to create a crypto mining company. They also spoke at the conference Wednesday, where they criticized the traditional banking system and heaped praise on crypto and their supporters in the audience. "I'm not sure if we would have won in the same decisive manner had it not been for this incredible community," Eric Trump said.
Time of India
22-05-2025
- Business
- Time of India
Bitcoin surges to all-time peak as crypto sentiment improves
Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month's tariff-induced selloff. The world's largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Don't Miss The Top Packaging Trends Of 2024, Enhnace Your Brand With The Latest Insights Packaging Machines | Search Ads Search Now Undo Its ascent was driven by a combination of factors including easing trade tension between the United States and China and Moody's downgrade of U.S. sovereign debt which has prompted investors to seek alternative investment sources to the dollar. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 2.55% Buy DeFi Tracker 2.13% Buy Smart Contract Tracker 0.15% Buy Web3 Tracker -0.78% Buy NFT & Metaverse Tracker -2.54% Buy TOP COINS (₹) BNB 57,887 ( 4.11% ) Buy Bitcoin 9,400,973 ( 2.98% ) Buy XRP 205 ( 1.92% ) Buy Ethereum 220,491 ( 1.47% ) Buy Tether 86 ( -0.03% ) Buy "Now that January's high has been surpassed - and the 50 percent upside from April's lows has been achieved - bitcoin enters blue sky territory with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment," Antoni Trenchev, co-founder of digital asset trading platform Nexo, said in an emailed comment. 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 » Bitcoin at times trades in a similar fashion to tech stocks and other assets that rise in value when investor sentiment is high. The tech-heavy Nasdaq is up 30% from its early April low. Live Events That has also coincided with continued weakness in the dollar, a further boost for bitcoin's exchange rate against the U.S. currency. Crypto market participants often point to increased involvement from traditional financial firms as reasons for its gains. This week they have referenced JPMorgan CEO Jamie Dimon, a longtime crypto skeptic, who said the bank will let clients buy bitcoin. Earlier this month, crypto exchange Coinbase was added to the S&P 500 index. Coinbase said on Monday the U.S. Department of Justice has opened a probe into a recent data breach at the company. "We're still in year four of the bitcoin price cycle - the year after the bitcoin halving when miner rewards are slashed in half - which historically means its best days are still ahead of it and - while macro uncertainty and the threat of further volatility remains, a target of $150,000 in 2025 is still very much on the cards," Trenchev said. Meanwhile, ether, the second-largest cryptocurrency, surprisingly did not rise in tandem with bitcoin. It was last down 0.5% at $2,513.
Time of India
21-05-2025
- Business
- Time of India
India must lead, not linger, on global Crypto regulation
The year 2025 has emerged as a pivotal juncture for the crypto-asset industry within the evolving landscape of global digital innovation. Jurisdictions spanning from Washington D.C. to Brussels, and from Singapore to Dubai, are progressing beyond exploratory phases to the formal integration of digital assets into their established financial systems. As our country takes the next leap forward in economic and technological advancement, it is imperative that we actively engage and articulate our position on this transformative phenomenon. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Click here for more information Undo Over the preceding year, the international discourse surrounding crypto-asset regulation has transitioned from a question of implementation to a focus on modalities. The United States, previously noted for its regulatory ambiguity, is now undertaking substantive measures to supplant its enforcement-centric approach with a framework predicated on clearly defined rules. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 1.52% Buy DeFi Tracker 0.95% Buy Smart Contract Tracker -0.97% Buy Web3 Tracker -4.09% Buy NFT & Metaverse Tracker -8.97% Buy TOP COINS (₹) Ethereum 222,343 ( 2.26% ) Buy Bitcoin 9,223,097 ( 2.22% ) Buy BNB 56,551 ( 1.72% ) Buy XRP 204 ( 0.74% ) Buy Tether 86 ( 0.11% ) Buy Recent legislative initiatives are addressing inter-agency jurisdictional complexities and 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 » establishing explicit parameters for stablecoins and investment products derived from crypto-assets . These reforms are not merely legal adjustments; they are strategic enablers for the mobilization of mainstream capital, the attraction of technological innovation, and the cultivation of public trust in this nascent asset class. Live Events The European Union's recent implementation of the Markets in Crypto-Assets (MiCA) framework has elevated global regulatory benchmarks. This represents the first instance of a pan-jurisdictional, harmonized regulatory regime governing crypto-assets. MiCA provides clarity for businesses operating within the digital asset space, enhances consumer protection, and adds strategic depth to the EU's broader digital finance agenda. Within the Asian financial sphere, key hubs are articulating definitive regulatory intentions. The Hong Kong Special Administrative Region is actively cultivating an environment conducive to becoming a regional center for crypto-assets, while Singapore has finalized its regulatory framework for stablecoins and operates a stringent licensing regime for digital asset service providers. Both jurisdictions are adeptly navigating the delicate equilibrium between fostering innovation and ensuring robust investor protection. Japan, an early adopter in this domain, continues to refine its Virtual Asset Service Provider (VASP) licensing framework and mandates the segregation of client funds, thereby ensuring robust safeguards for consumers. South Korea is in the process of formulating comprehensive legislation aimed at consolidating crypto-asset oversight and establishing clear standards pertaining to disclosure, reserve requirements, and cybersecurity protocols. In the Middle East, the United Arab Emirates is strategically positioning itself as a prominent destination for global financial technology firms through regulatory frameworks spearheaded by Dubai's Virtual Asset Regulatory Authority (VARA) and Abu Dhabi's Financial Services Regulatory Authority (FSRA). These authorities have instituted licensing regimes, regulations governing virtual asset exchanges, and regulatory sandboxes designed to foster innovation while maintaining rigorous compliance standards. In this global context, India 's current stance warrants critical evaluation. While commendable progress has been made in areas such as taxation and the monitoring of financial intelligence related to digital assets, the absence of a publicly available, principles-based discussion paper on the regulation of crypto-assets remains a notable gap. Our country has demonstrated grounds for global leadership in the development of digital public infrastructure, exemplified by initiatives such as UPI, Aadhaar, and ONDC. Consequently, the perceived lag in proactively shaping the future of digital assets is incongruous with this established trajectory. Our Fintech innovators possess world-class capabilities, the consumer base exhibits a strong affinity for digital solutions, and our developers are integral to the global crypto-asset infrastructure. However, the lack of a clear domestic regulatory framework risks the migration of both capital and talent to more accommodating jurisdictions and greener pastures. A structured national dialogue, predicated on reasoned deliberation rather than reactive measures or inconsistent signals, is essential now more than ever. The publication of a comprehensive discussion paper would serve as an optimal initial step in catalyzing this crucial process. Furthermore, India is scheduled for a Financial Stability Board (FSB) peer review in October 2025, which will assess our nation's preparedness and alignment with international standards in the regulation of crypto-assets. Demonstrating clear regulatory intent prior to this review is of paramount importance. Additionally, September 2025 will mark the second anniversary of the G20 Delhi Declaration, which underscored the critical need for global cooperation in the regulation of the crypto-asset ecosystem. Our country can no longer afford to defer decisive action in this domain. The global landscape is rapidly evolving, and it is imperative that we align our trajectory accordingly. (The author G M Harish is a Member of Parliament) ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
20-05-2025
- Business
- Time of India
Bitcoin trades above $106,000 as market shrugs off US credit downgrade; Ethereum, Chainlink jump over 7%
Bitcoin surged past the $106,000 mark on Tuesday, buoyed by rising institutional interest, regulatory developments, and renewed investor appetite for crypto assets amid global economic uncertainty. As of 11:19 AM IST, Bitcoin was trading at $106,134, up 3.1%, while Ethereum rallied 7.8% to $2,564. The global cryptocurrency market cap rose 3.29% to $3.36 trillion. Bitcoin's latest rally followed Moody's decision to downgrade the US sovereign credit rating from AAA to Aa1, citing concerns over the country's rising $36.87 trillion debt burden. The move sparked unease in traditional markets, pushing investors toward digital assets. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 -2.36% Buy Smart Contract Tracker -5.63% Buy DeFi Tracker -6.69% Buy Web3 Tracker -9.05% Buy NFT & Metaverse Tracker -11.85% Buy TOP COINS (₹) Ethereum 217,302 ( 6.87% ) Buy Bitcoin 9,026,908 ( 3.07% ) Buy XRP 202 ( 2.5% ) Buy BNB 55,571 ( 2.19% ) Buy Tether 85 ( 0.09% ) Buy 'Bitcoin surged past the $106K mark following Moody's decision... reinforcing BTC's narrative as a macro hedge against traditional financial instability,' said the CoinSwitch Markets Desk, noting that Bitcoin's market dominance rose by 4.07% following the downgrade. 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 » Edul Patel, Co-founder and CEO of Mudrex, echoed the sentiment. 'Bitcoin is showing strong recovery, trading near $106,700 after a brief pullback... reaffirming its appeal as a hedge against uncertainty,' he said. 'BTC needs to breach the resistance at $107,500 for a move toward a new all-time high. Support remains at $102,750.' The rally also gained momentum after JPMorgan CEO Jamie Dimon confirmed the bank would allow clients to purchase Bitcoin—a major step for institutional adoption. 'JP Morgan CEO has announced that the bank will allow its clients to purchase Bitcoin, which is seen as a big boost from a retail and institutional adoption point of view,' said Shivam Thakral, CEO of BuyUcoin. He also pointed to technical indicators: 'Some analysts anticipate a 'golden cross' pattern on Bitcoin's daily chart, which could signal further bullish momentum.' Also Read: JPMorgan Chase to offer clients access to Bitcoin, despite CEO Dimon's continued criticism Meanwhile, the US Senate advanced the GENIUS Act—a key bill targeting oversight of the $250 billion stablecoin market. If passed, experts say it could bring much-needed clarity to crypto regulation in the US. Vikram Subburaj, CEO of Giottus, noted that Bitcoin continues to consolidate above key support levels. '$107,000 remains a key resistance to watch in the near term,' he said. 'In the derivatives market, open interest remains concentrated at $110,000 and $115,000 ahead of the May 30 expiry... reflecting bullish positioning among traders.' The broader altcoin market also saw gains. Chainlink led the pack with a 7.7% rise, followed by Solana and Avalanche up 4% and 3.8%, respectively. XRP, BNB, Dogecoin, Cardano, Tron, Sui, and Shiba Inu gained between 2% and 3.8%. Bitcoin's market cap rose to $2.109 trillion, maintaining a 62.8% share of the total crypto market. However, daily trading volumes fell 6.3% to $57.18 billion. Also Read: Why AI tokens are emerging as high-conviction investment theme in 2025 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
