Latest news with #TrumpFamily
Russia Today
a day ago
- Business
- Russia Today
Trump Media invests $2 billion in Bitcoin
US President Donald Trump's media and technology company has acquired about $2 billion in Bitcoin and related assets, underscoring his administration's accelerating pivot toward cryptocurrencies. The Trump family has increasingly aligned with the crypto industry through new ventures, investments, and public endorsements in recent months. On Monday, Trump Media – the firm behind the Truth Social platform – announced the acquisition, saying another $300 million in capital has been allocated to an options-based Bitcoin strategy, and signaling that it may convert the options into cryptocurrency depending on market conditions. The assets will be used 'to generate revenues and potentially to acquire additional crypto assets,' CEO and President Devin Nunes said. Crypto now accounts for about two-thirds of the firm's $3 billion in liquid holdings. The purchase is part of Trump Media's 'Bitcoin treasury plan', which involves buying and holding digital assets – similar to how companies stockpile bonds – to increase liquidity and financial flexibility. Trump Media shares soared nearly 10% following the announcement. Trump, who placed his shares in a revocable trust managed by Donald Trump Jr., maintains a major stake valued at around $2.3 billion. Once a crypto skeptic, Trump reversed course during the 2024 campaign, pledging to make the US the 'crypto capital of the world' and to serve as its 'crypto president.' Since returning to the White House, he has backed several family-led ventures in the space, including World Liberty Financial – a decentralized finance project that has brought in $500 million since launching in September. As part of the new US 'strategic reserve' of crypto assets unveiled in March, Trump signed the GENIUS Act last week – the country's first major law regulating digital currency. Critics have claimed that the overlap between Trump's crypto ventures and his political authority could result in widespread corruption. Trump Media's announcement came less than a week after Bitcoin hit a record high, topping $120,000 – reinforcing its position as the world's most valuable and widely held cryptocurrency. Analysts attributed the rally to surging institutional demand and a shift in US policy under Trump. On Tuesday, it was trading at $118,395 per coin.
Yahoo
5 days ago
- Politics
- Yahoo
Trump Claims Uncle Taught the Unabomber, No Evidence to Support Allegation
President Donald Trump claimed his late uncle, John Trump, taught Ted Kaczynski, the infamous Unabomber, while at MIT.
Washington Post
5 days ago
- Business
- Washington Post
Takeaways from the AP's reporting on Trump's business deals
WASHINGTON — From crypto coins to bibles, overseas development deals to an upcoming line of cellphones, President Donald Trump's family businesses have raked in hundreds of millions of dollars since his election. That flood of money — from billionaires, foreign governments and cryptocurrency tycoons, often with interests before the federal government — has permitted the president to leverage the power of his office for personal gain unlike any of his predecessors.
Reuters
6 days ago
- Business
- Reuters
Trump Jr.-backed GrabAGun extends losses after sinking on debut
July 17 (Reuters) - Donald Trump Jr.-backed GrabAGun's (PEW.N), opens new tab shares fell nearly 5% in premarket trading on Thursday, extending losses after tumbling 24% on their debut on the New York Stock Exchange following a blank-check merger. The company is among the many business interests of the Trump family, whose portfolio spans real estate, hospitality, media, and, increasingly, politically aligned ventures tied to gun rights and conservative consumerism. According to the gun retailer's prospectus, Trump Jr., the oldest son of President Donald Trump, owns about 300,000 shares in the company, currently worth roughly $4 million. Trump Jr. also sits on the board of the online retailer of firearms, ammunition and gun accessories. From Donald Trump's sprawling portfolio of golf courses and hotels to Trump Media & Technology Group's (DJT.O), opens new tab volatile public debut - and now Trump Jr.'s stake in GrabAGun - the family's brand has been used to tap into a loyal base of supporters and investors. These ventures, often closely tied to the president's political identity, have drawn scrutiny from regulators and investors. "What we're doing with GrabAGun would have been unthinkable four years ago at the height of wokeness in corporate America," Trump Jr. said in a post on X, opens new tab. However, the lukewarm reception highlights the risks of backing newly listed companies, even those tied to prominent figures. Founded in 2010, GrabAGun offers an assortment of sporting firearms, ammunition and accessories. It has said it expects to benefit from a shift to online shopping by younger firearm enthusiasts. It went public after clinching a merger with Colombier Acquisition Corp. II , a special purpose acquisition company backed by President Trump's donor, Omeed Malik. The deal positioned GrabAGun among a growing group of right-leaning companies such as Trump Media, Rumble (RUM.O), opens new tab and Chain Bridge Bancorp (CBNA.N), opens new tab that have gone public in recent years. SPACs allow their shareholders to redeem their shares and get their money back if they do not like the proposed merger target. Colombier said it had seen "near-zero" such redemptions, opens new tab, signaling "clear confidence" in the GrabAGun business.
Yahoo
7 days ago
- Politics
- Yahoo
Kai Trump on wanting to be a pro golfer after college
Kai Trump, the granddaughter of President Donald Trump, says she "100%" wants to be a professional golfer after her time playing at Miami in college.
