Latest news with #TrumpNFTs
Yahoo
4 days ago
- Business
- Yahoo
Trump Media to raise $2.5 billion to invest in bitcoin
(Reuters) -Trump Media and Technology Group will raise about $2.5 billion to invest in bitcoin, U.S. President Donald Trump's social media company said on Tuesday, as it looks to diversify its revenue. The company is raising the funds by selling $1.5 billion in stock at its last closing price and $1 billion in convertible notes priced at a 35% premium, it said in a statement. The bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter. Crypto platforms Anchorage Digital and will provide custody for the bitcoin holdings. "We view bitcoin as an apex instrument of financial freedom," Trump Media CEO Devin Nunes said, hailing the move as a "big step forward" in the company's plan to acquire "crown jewel assets consistent with America First principles." Shares of the company behind Truth Social, a streaming and social media platform, were down 8%. The move is part of a recent trend of public companies adding bitcoin and other cryptocurrencies to their balance sheets to capitalize on rising token prices as the Trump administration embraces digital assets. Strategy - formerly known as MicroStrategy - has long been an aggressive investor in bitcoin and saw its shares soar more than six-fold last year, taking its market value to almost $94 billion. The company held $23.91 billion in crypto assets at the end of 2024. Several other companies have tried to replicate Strategy's success, including GameStop and several biotech firms. Last month, Cantor Fitzgerald announced that it would team up with Tether and SoftBank Group to launch Twenty One Capital, a bitcoin-buying entity that formed from a merger with blank-check vehicle Cantor Equity Partners. The combined vehicle is valued at $3.6 billion. Trump Media has been exploring potential mergers and acquisitions as it aims to diversify into financial services. Last month, it reached a binding agreement to launch various retail investment products, including crypto and exchange-traded funds aligned with Trump's policies. The Trump family, long rooted in skyscrapers and country clubs, has opened multiple beachheads in crypto, quickly gaining hundreds of millions of dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and World Liberty Financial, a decentralized crypto platform that also offers a stablecoin pegged to the U.S. dollar. But the crypto push has attracted scrutiny from lawmakers, including Democratic Senator Elizabeth Warren, who last month asked the U.S. securities regulator about its plans to supervise ETFs due to be launched by Trump Media.
USA Today
6 days ago
- Business
- USA Today
Trump Media to raise $2.5 billion to invest in bitcoin
Trump Media to raise $2.5 billion to invest in bitcoin Show Caption Hide Caption Trump hosts crypto dinner for biggest $TRUMP coin buyers The president hosted top investors in his meme coin and rewarded the biggest buyers with gifts worth about $100,000. Trump Media and Technology Group will raise about $2.5 billion to invest in bitcoin, President Donald Trump's social media firm said on Tuesday, as it looks to diversify its revenue streams with a push into the financial sector. The company is raising the funds by selling $1.5 billion in stock at its last closing price and $1.0 billion in convertible notes priced at a 35% premium, it said in a statement. The bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter. Crypto platforms Anchorage Digital and will provide custody for the bitcoin holdings. "We view bitcoin as an apex instrument of financial freedom," Trump Media CEO Devin Nunes said, hailing the move as a "big step forward" in the company's plan to acquire "crown jewel assets consistent with America First principles". More: What's happening with cryptocurrency Shares of the company behind Truth Social, a streaming and social media platform, were down 6% in early trading. Trump Media has been exploring potential mergers and acquisitions as it aims to diversify into financial services. Last month, it reached a binding agreement to launch various retail investment products, including crypto and exchange-traded funds aligned with Trump's America First policies. The Trump family, long rooted in skyscrapers and country clubs, has opened multiple beachheads in crypto, quickly gaining hundreds of millions of dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and the cryptocurrency exchange World Liberty Financial. But the crypto push has attracted scrutiny from lawmakers, including Democratic Senator Elizabeth Warren, who last month asked the U.S. securities regulator about its plans to supervise ETFs due to be launched by Trump Media. (Reporting by Aditya Soni and Arsheeya Bajwa in Bengaluru; Editing by Shilpi Majumdar)
Business Recorder
6 days ago
- Business
- Business Recorder
Trump Media to raise $2.5 billion to invest in bitcoin
Trump Media and Technology Group will raise about $2.5 billion to invest in bitcoin, U.S. President Donald Trump's social media firm said on Tuesday, as it looks to diversify its revenue streams with a push into the financial sector. The company is raising the funds by selling $1.5 billion in stock at its last closing price and $1.0 billion in convertible notes priced at a 35% premium, it said in a statement. The bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter. Crypto platforms Anchorage Digital and will provide custody for the bitcoin holdings. Bitcoin rises to new record high, eclipses January top 'We view bitcoin as an apex instrument of financial freedom,' Trump Media CEO Devin Nunes said, hailing the move as a 'big step forward' in the company's plan to acquire 'crown jewel assets consistent with America First principles'. Shares of the company behind Truth Social, a streaming and social media platform, were down 6% in early trading. Trump Media has been exploring potential mergers and acquisitions as it aims to diversify into financial services. Last month, it reached a binding agreement to launch various retail investment products, including crypto and exchange-traded funds aligned with Trump's America First policies. The Trump family, long rooted in skyscrapers and country clubs, has opened multiple beachheads in crypto, quickly gaining hundreds of millions of dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and the cryptocurrency exchange World Liberty Financial. But the crypto push has attracted scrutiny from lawmakers, including Democratic Senator Elizabeth Warren, who last month asked the U.S. securities regulator about its plans to supervise ETFs due to be launched by Trump Media.
Economic Times
6 days ago
- Business
- Economic Times
Trump Media to raise $2.5 billion to invest in bitcoin
Trump Media and Technology Group will raise about $2.5 billion to invest in bitcoin, U.S. President Donald Trump's social media firm said on Tuesday, as it looks to diversify its revenue streams with a push into the financial sector. ADVERTISEMENT The company is raising the funds by selling $1.5 billion in stock at its last closing price and $1.0 billion in convertible notes priced at a 35% premium, it said in a statement. The bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter. Crypto platforms Anchorage Digital and will provide custody for the bitcoin holdings. "We view bitcoin as an apex instrument of financial freedom," Trump Media CEO Devin Nunes said, hailing the move as a "big step forward" in the company's plan to acquire "crown jewel assets consistent with America First principles". Shares of the company behind Truth Social, a streaming and social media platform, were down 6% in early trading. Trump Media has been exploring potential mergers and acquisitions as it aims to diversify into financial services. ADVERTISEMENT Last month, it reached a binding agreement to launch various retail investment products, including crypto and exchange-traded funds aligned with Trump's America First policies. The Trump family, long rooted in skyscrapers and country clubs, has opened multiple beachheads in crypto, quickly gaining hundreds of millions of dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and the cryptocurrency exchange World Liberty Financial. ADVERTISEMENT But the crypto push has attracted scrutiny from lawmakers, including Democratic Senator Elizabeth Warren, who last month asked the U.S. securities regulator about its plans to supervise ETFs due to be launched by Trump Media. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Times
23-04-2025
- Business
- Business Times
Trump Media pushes forward with pivot to crypto, ETF plans
[NEW YORK] US President Donald Trump's social media firm, Trump Media & Technology Group, said on Tuesday (Apr 22) it had reached a binding agreement to roll out an array of retail investment products, including crypto, in its latest bid to diversify into financial services. The plan, including a series of exchange-traded funds (ETFs) aligned with Trump's America First policies, followed news of a preliminary agreement reached last month between Trump Media and a digital asset platform with ties to broker-dealer Foris, and Yorkville America Digital, an affiliate of Yorkville Advisors, a New Jersey-based investment advisory and asset management firm. Trump Media, which runs the Truth Social streaming and social media platform, said the funds are expected to launch later this year, subject to regulatory approval, and will be widely available in the US and abroad. So far, no ETF filings have been submitted to the Securities and Exchange Commission website. 'We look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth,' said Devin Nunes, CEO of Trump Media, in a press release. On Mar 27, said the SEC had informed it that the agency had officially closed a 2024 investigation into the company and would file no enforcement action against it. Trump Media, Foris and Yorkville did not immediately respond to requests for comment. The Trump family, long rooted in skyscrapers and country clubs, has opened multiple beachheads in crypto, quickly gaining hundreds of millions of US dollars. Those other crypto forays include Trump NFTs, a meme coin, a stake in a newly formed bitcoin producer called American Bitcoin and the cryptocurrency exchange World Liberty Financial. The Trump Organization announced in January that the president's investments, assets and business interests, including his US$2.7 billion stake in Trump Media, would be held in a trust managed by his children and he would play no role in day-to-day operations or decision-making. A handful of ETFs already offer products with investment strategies that align with Trump's policy objectives. The largest of these is the American Conservative Values ETF, which has US$110 million in assets, launched in October 2022. The God Bless America ETF, launched the same month, describes itself on its website as 'an investment for God-fearing, flag-waving conservatives' and has assets of US$79.4 million. REUTERS
