Latest news with #TMTG
Yahoo
2 days ago
- Business
- Yahoo
Trump Media Group Reportedly Plans To Raise $3 Billion To Buy Cryptocurrencies: 'Borrowing A Page' From MSTR Playbook, Says Peter Schiff
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Trump Media & Technology Group (NASDAQ:DJT), the Trump family's media company, is reportedly strategizing to raise a $3 billion investment in cryptocurrencies, such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE). What Happened: TMTG, the organization owned by the Trump family, is looking to raise $2 billion in new equity and an additional $1 billion through a convertible bond. This announcement could be made public ahead of a significant gathering of crypto investors and supporters in Las Vegas this week, as reported by the Financial Times on Monday. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. After his re-election last year, President Donald Trump transferred his 53% stake in TMTG, currently valued at around $3 billion, to a revocable trust managed by his son Donald Jr. Last month, a publicly traded blank-check company headed by Brandon Lutnick — the son of Commerce Secretary Howard Lutnick — announced a $3.6 billion deal to create a Bitcoin acquisition firm named Twenty One Capital, in partnership with Tether and SoftBank. Trump Media & Technology Group slammed the FT report, as per the It Matters: This move by TMTG comes after Bitcoin's price surpassed a record-high of $109,000 last week. Notably, in April, Trump Media & Technology Group Corp. saw a rally of over 25% in just five days. This surge was attributed to a high-profile partnership with and Yorkville America Digital, which led to the launch of a suite of 'America-First' ETFs. Meanwhile, notable economist Peter Schiff commented on X that TMTG is borrowing a page from Strategy (NASDAQ:MSTR) co-founder Michael Saylor's 'playbook.' Strategy, previously MicroStrategy, has transformed its market value to over $100 billion by leveraging debt and equity offerings to acquire tens of billions of dollars' worth of Bitcoin. Peter Schiff also took a dig at TMTG, saying it's unfortunate that Trump's company isn't able to open a factory and manufacture real products to help Americans avoid the impact of his own tariffs. On Friday, DJT stock climbed 4.64% to close at $25.72. On a year-to-date basis, it plunged 24.4%. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image via Shutterstock Send To MSN: Send to MSN This article Trump Media Group Reportedly Plans To Raise $3 Billion To Buy Cryptocurrencies: 'Borrowing A Page' From MSTR Playbook, Says Peter Schiff originally appeared on Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Last year, Trump promised bitcoin bros a seat at the table. For better or worse, he wasn't lying
A version of this story appeared in CNN Business' Nightcap newsletter. To get it in your inbox, sign up for free here. Last July, Donald Trump made a campaign stop that served as his crypto coming out party. Trump, a guy who has an aide follow him around with a portable printer so he can read the internet, got onstage at the Bitcoin Conference in Nashville and promised the moon to a crowd of extremely online crypto-Libertarians. 'Oh, you're going to be very happy with me,' he said, before vowing to make America the 'crypto capital of the planet.' With the zeal of the converted, he rattled off crypto shibboleths, promising to 'fire' Securities and Exchange Commission Chair Gary Gensler (the Biden-era bogeyman the industry loved to blame for its problems), to create a 'strategic national bitcoin stockpile' and even pardon Ross Ulbricht — the creator of the Silk Road digital marketplace used primarily for selling drugs on the dark web, who was serving a life sentence. Since retaking office, Trump has kept all of those promises (technically — Gensler stepped down before Trump could fire him). And he's gone even further. 'Maybe the most important thing that we did for this community, we reject regulators and we fired Gary Gensler, and we're gonna fire everybody like him,' said Vice President JD Vance at a crypto conference on Wednesday. It's hard to overstate how much the president has changed his tune on crypto, which he criticized in his first term as 'highly volatile and based on thin air.' Now, Trump's personal wealth is estimated to include $2.9 billion tied to his digital asset projects — representing some 37% of his total fortune, according to an April report from the left-leaning State Democracy Defenders Fund. Bitcoin, a bellwether for crypto, has shot up 67% since Trump spoke in Nashville last year. This week, Trump deepened his financial ties to the alternative financial industry that his administration is tasked with regulating. His two oldest sons and Vance took his spot headlining this year's Bitcoin Conference in Las Vegas, where they reassured supporters that Team Trump is, in Don Jr.'s words, 'seriously long crypto.' On Tuesday, Trump's media company said it would raise $2.5 billion to buy bitcoin — a move that mimics a corporate cash-management strategy popularized by MicroStrategy (now known as Strategy) and Tesla. Two things to know about what's going on here. First: Trump Media & Technology Group (TMTG), which owns the president's social media platform, Truth Social, is not a company in a traditional sense of, like, a business that makes money. It is a perpetually unprofitable entity that generates almost no revenue, but public interest in Trump keeps the company's stock market value elevated — much like a meme stock. By becoming more of a bitcoin holding company, TMTG offers traditional investors exposure to bitcoin's gains (and losses) without the hassle of actually buying bitcoin and managing it in a digital wallet themselves. 'Holding bitcoin on a balance sheet is part financial strategy, part cultural signaling,' said Temujin Louie, CEO of blockchain platform Wanchain. 'TMTG's move is more politically charged. Given its ties to President Trump, any decision must inevitably align with the current administration's rhetoric and embrace of cryptocurrencies as a populist tool.' Second: The bitcoin play adds another halo of legitimacy around an asset that investors are still afraid of. The appearance of credibility has long eluded crypto because, well, it's just so useful for doing crimes, and its advocates haven't done a great job articulating mainstream use cases for digital money that you can't actually buy much with. But having an evangelist in the West Wing seems to be changing that. Bitcoin hit an all-time high of over $111,000 last week, fueled in part by the advancement of legislations that would create the first federal rules around stablecoins, a subcategory of crypto, a key step the industry has been lobbying for. 'I'm here today to say loud and clear with President Trump, crypto finally has a champion and an ally in the White House,' Vance said Wednesday at the Bitcoin Conference. He also implored crypto fans to carry last year's voting momentum forward for the 2026 midterms, and boasted that he personally still holds 'a fair amount of bitcoin today.' Lawyers and ethics experts aren't mincing words when they say Trump's crypto ventures open the door to all kinds of potential corruption. 'The only reason this isn't a crime is because the criminal conflict-of-interest statute does not apply to the president or the vice president,' Richard Painter, a former White House ethics lawyer for President George W. Bush, told CNN. 'The president and his family are investing in crypto — riding a bubble that may someday burst. The systemic impact on the economy could trigger another financial crisis.' The White House has repeatedly said the president has no conflicts of interest, and lashed out at the media for even asking. Press secretary Karoline Leavitt recently said it was 'frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit.' CNN's Matt Egan contributed reporting. Sign in to access your portfolio
9 News
3 days ago
- Business
- 9 News
Last year, Trump promised Bitcoin bros a seat at the table. He wasn't lying
Your web browser is no longer supported. To improve your experience update it here BREAKING Man charged with murder after fatal Sydney house fire Last July, Donald Trump made a campaign stop that served as his crypto coming out party. Trump, a guy who has an aide follow him around with a portable printer so he can read the internet, got onstage at the Bitcoin Conference in Nashville and promised the moon to a crowd of extremely online crypto-Libertarians. "Oh, you're going to be very happy with me," he said, before vowing to make America the "crypto capital of the planet". President Donald Trump has embraced crypto in his second term. (AP Photo/Evan Vucci) With the zeal of the converted, he rattled off crypto shibboleths, promising to "fire" Securities and Exchange Commission Chair Gary Gensler (the Biden-era bogeyman the industry loved to blame for its problems), to create a "strategic national Bitcoin stockpile" and even pardon Ross Ulbricht — the creator of the Silk Road digital marketplace used primarily for selling drugs on the dark web, who was serving a life sentence. Since retaking office, Trump has kept all of those promises (technically — Gensler stepped down before Trump could fire him). And he's gone even further. "Maybe the most important thing that we did for this community, we reject regulators and we fired Gary Gensler, and we're gonna fire everybody like him," Vice President JD Vance said at a crypto conference overnight. It's hard to overstate how much the president has changed his tune on crypto, which he criticised in his first term as "highly volatile and based on thin air". Now, Trump's personal wealth is estimated to include $US2.9 billion ($4.5 billion) tied to his digital asset projects — representing some 37 per cent of his total fortune, according to an April report from the left-leaning State Democracy Defenders Fund. Bitcoin, a bellwether for crypto, has shot up 67 per cent since Trump spoke in Nashville last year. This week, Trump deepened his financial ties to the alternative financial industry that his administration is tasked with regulating. His two oldest sons and Vance took his spot headlining this year's Bitcoin Conference in Las Vegas, where they reassured supporters that Team Trump is, in Don Jr's words, "seriously long crypto". On Tuesday, Trump's media company said it would raise $US2.5 billion ($3.9 billion) to buy Bitcoin — a move that mimics a corporate cash-management strategy popularised by MicroStrategy (now known as Strategy) and Tesla. Two things to know about what's going on here. First: Trump Media & Technology Group (TMTG), which owns the president's social media platform, Truth Social, is not a company in a traditional sense of, like, a business that makes money. It is a perpetually unprofitable entity that generates almost no revenue, but public interest in Trump keeps the company's stock market value elevated — much like a meme stock . By becoming more of a Bitcoin holding company, TMTG offers traditional investors exposure to bitcoin's gains (and losses) without the hassle of actually buying bitcoin and managing it in a digital wallet themselves. "Holding Bitcoin on a balance sheet is part financial strategy, part cultural signalling," Temujin Louie, CEO of blockchain platform Wanchain "TMTG's move is more politically charged. Given its ties to President Trump, any decision must inevitably align with the current administration's rhetoric and embrace of cryptocurrencies as a populist tool." Second: the Bitcoin play adds another halo of legitimacy around an asset that investors are still afraid of. The appearance of credibility has long eluded crypto because, well, it's just so useful for doing crimes , and its advocates haven't done a great job articulating mainstream use cases for digital money that you can't actually buy much with. But having an evangelist in the West Wing seems to be changing that. Bitcoin hit an all-time high of over $US111,000 ($173,000) last week, fuelled in part by the advancement of legislations that would create the first federal rules around stablecoins , a subcategory of crypto, a key step the industry has been lobbying for. "I'm here today to say loud and clear with President Trump, crypto finally has a champion and an ally in the White House," Vance said at the Bitcoin Conference. He also implored crypto fans to carry last year's voting momentum forward for the 2026 midterms, and boasted that he personally still holds "a fair amount of Bitcoin today". Lawyers and ethics experts aren't mincing words when they say Trump's crypto ventures open the door to all kinds of potential corruption. "The only reason this isn't a crime is because the criminal conflict-of-interest statute does not apply to the president or the vice president," Richard Painter, a former White House ethics lawyer for President George W. Bush, told CNN. "The president and his family are investing in crypto — riding a bubble that may someday burst. "The systemic impact on the economy could trigger another financial crisis." The White House has repeatedly said the president has no conflicts of interest, and lashed out at the media for even asking. Press secretary Karoline Leavitt recently said it was "frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit". cryptocurrency Bitcoin World finance Donald Trump CONTACT US Property News: 'Stressful': Perth mum's dilemma after rental mix-up.
Forbes
3 days ago
- Business
- Forbes
Trump Media's $2.5 Billion Bitcoin Bet: Will Others Follow?
A cutout of US President Donald Trump holding a Bitcoin is displayed on a group of servers during ... More The Bitcoin Conference at The Venetian Las Vegas in Las Vegas, Nevada, on May 27, 2025. In a move that underscores the growing intersection of politics and digital finance, Trump Media & Technology Group, the parent company of Truth Social, announced plans to raise $2.5 billion to invest in bitcoin. This initiative aligns with President Donald Trump's broader vision to position the United States as a global leader in cryptocurrency adoption and innovation. The $2.5 billion capital raise will be secured through the sale of approximately $1.5 billion in common shares and $1 billion in zero-coupon convertible bonds to around 50 institutional investors via a private placement, Investopedia reported. The funds are earmarked to establish a bitcoin treasury reserve, signaling a significant shift in TMTG's investment strategy. Devin Nunes, CEO at Trump Media & Technology Group. Devin Nunes, CEO of TMTG, emphasized the strategic nature of this investment in the public press statements, saying, he views "bitcoin as an apex instrument of financial freedom." He further noted that holding bitcoin aligns with the company's mission to protect itself from institutional discrimination and to support future initiatives, including subscription services and utility tokens across its platforms. This move by TMTG is not occurring in isolation. It reflects a broader policy shift under Trump's administration, which has adopted a pro-crypto stance. Since resuming office in 2025, President Trump has expressed strong support for the cryptocurrency industry, aiming to make the U.S. the global leader in crypto. This includes the establishment of a Strategic Bitcoin Reserve and the appointment of U.S. Securities and Exchange Commission leadership more favorable to digital assets. The administration's approach has also influenced public sentiment. A recent survey by Gemini revealed that nearly a quarter (23%) of U.S. non-crypto owners said the launch of the Strategic Bitcoin Reserve increased their confidence in digital assets. Despite the strategic framing, the announcement had immediate financial repercussions. TMTG's stock experienced significant volatility, initially rising by 15% in premarket trading but dropping 10% after market open, reaching a low of $23.19. The company's shares have fallen 27% year-to-date. Moreover, the intertwining of Trump's political role with his family's business ventures has raised ethical concerns. 'Trump's dealings in crypto appear to present the greatest conflicts of interest and avenues for corruption any president has ever embraced,' Larry Noble, a American University law professor who was formerly a general counsel at the Federal Election Commission, told The Guardian. Critics argue that the move blurs the lines between public office and private profit, especially considering the Trump family's involvement in various crypto ventures, including the launch of the $TRUMP meme coin. TMTG's investment comes at a time when global cryptocurrency adoption is on the rise. According to a survey by Gemini, crypto ownership in the U.S. increased from 20% in 2024 to 22% in 2025. The U.K. saw a more significant jump, from 18% to 24%, while Singapore leads with 28% ownership. This growing adoption is accompanied by increased institutional interest. A report by Research and Markets suggests that many expect a rally to new all-time highs in the crypto market, driven by regulatory clarity and institutional investments. TMTG's $2.5 billion investment in Bitcoin represents a significant step in integrating cryptocurrency into mainstream financial strategies. While it aligns with the current administration's pro-crypto policies, it also raises questions about the appropriate boundaries between political influence and private enterprise. As the U.S. navigates its role in the evolving digital asset landscape, the actions of prominent figures like President Trump and companies like TMTG will undoubtedly play a pivotal role in shaping the future of cryptocurrency adoption and regulation.
Epoch Times
3 days ago
- Business
- Epoch Times
Trump Media to Raise $2.5 Billion for Bitcoin Treasury
Trump Media & Technology Group (TMTG) said on Tuesday that institutional investors will purchase $2.5 billion in the company's stock, with the proceeds going toward a bitcoin reserve. The deal comprises $1.5 billion in common stock and another $1 billion in convertible notes priced at a 35 percent premium, according to a Bitcoin will be held on TMTG's balance sheet alongside existing cash, cash equivalents, and short-term investments totaling $759 million as of the end of the first quarter of 2025, according to the statement. TMTG said it has subscription agreements with approximately 50 institutional investors and that the proceeds have been earmarked for the creation of a 'Bitcoin treasury.' Crypto platforms Anchorage Digital and will provide custody for the treasury, the company said. Along with social media platform Truth Social and the streaming platform Truth+, TMTG also operates financial services platform Related Stories 5/1/2025 3/26/2025 In March, TMTG 'We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,' TMTG CEO and Chairman Devin Nunes said in Tuesday's statement. The former congressman said the investment will help defend the company against 'harassment and discrimination by financial institutions,' behavior he said plagues 'many Americans and U.S. firms.' The investment will 'create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+,' Nunes said. '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.' Shares of the company were up by 2.47 percent as of early Wednesday morning but have declined by more than 53 percent over the past 12 months. Trump Admin Touts Digital Assets The announcement comes as the Trump administration continues to embrace digital assets, which Trump widely touted throughout his 2024 election campaign. In 2019, however, he In January, Trump signed an The group will comprise several senior officials, including the secretary of the treasury and the secretary of homeland security, and will be chaired by David Sacks, the White House's special adviser for artificial intelligence and crypto, according to the order. It will be tasked with proposing a 'federal regulatory framework governing the issuance and operation of digital assets, including stablecoins,' the order stated. Trump's order said that the digital asset industry 'plays a crucial role in innovation and economic development in the United States, as well as our Nation's international leadership.' In March, Trump also That announcement prompted pushback from Sen. Elizabeth Warren (D-Mass.), who said it 'triggered a surge in crypto prices before a sharp drop, raising concerns about possible market manipulation and insider trading.' In a March In April, Warren also 'All SEC decisions and actions involving TMTG and President Trump's financial interests should be carefully managed to ensure that they are free from undue political interference and influence from the President and his administration,' Warren said. The Epoch Times contacted the White House for comment but did not receive a response by publication time.
