Latest news with #AnchorageDigital
Yahoo
4 days ago
- Business
- Yahoo
Trump Media Raises Billions for Bitcoin, Shares Tumble
May 28 - Trump Media (NASDAQ:DJT) said it has secured $2.5 billion from institutional investors to build one of the largest bitcoin treasuries by a public company. The financing comprises $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for bitcoin purchases. Anchorage Digital and will custody the digital assets. Warning! GuruFocus has detected 4 Warning Signs with DJT. Shares of Trump Media slid about 10% on Tuesday, trimming the stock's year-to-date gains as investors weighed the pivot from social media to financial services. The company's market value stands near $5.3 billion despite reporting just $3.6 million in revenue and a $400 million loss in 2024. The announcement comes as Bitcoin 2025, the year's premier crypto conference, unfolds in Las Vegas, where Trump's team has touted his role as the country's first crypto president. About 50 institutional subscribers have signed agreements to back the deal. Donald Trump indirectly controls over 114 million shares through a revocable trust. Chief Executive Devin Nunes described bitcoin as a crown jewel asset and signaled further strategic acquisitions to bolster the treasury. This move mirrors trends set by MicroStrategy (NASDAQ:MSTR) and other politically aligned firms converting corporate cash into bitcoin, underscoring the growing appeal of digital assets as a hedge against traditional banking constraints. This article first appeared on GuruFocus.
Yahoo
4 days ago
- Business
- Yahoo
Trump Media Raises Billions for Bitcoin, Shares Tumble
May 28 - Trump Media (NASDAQ:DJT) said it has secured $2.5 billion from institutional investors to build one of the largest bitcoin treasuries by a public company. The financing comprises $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for bitcoin purchases. Anchorage Digital and will custody the digital assets. Warning! GuruFocus has detected 4 Warning Signs with DJT. Shares of Trump Media slid about 10% on Tuesday, trimming the stock's year-to-date gains as investors weighed the pivot from social media to financial services. The company's market value stands near $5.3 billion despite reporting just $3.6 million in revenue and a $400 million loss in 2024. The announcement comes as Bitcoin 2025, the year's premier crypto conference, unfolds in Las Vegas, where Trump's team has touted his role as the country's first crypto president. About 50 institutional subscribers have signed agreements to back the deal. Donald Trump indirectly controls over 114 million shares through a revocable trust. Chief Executive Devin Nunes described bitcoin as a crown jewel asset and signaled further strategic acquisitions to bolster the treasury. This move mirrors trends set by MicroStrategy (NASDAQ:MSTR) and other politically aligned firms converting corporate cash into bitcoin, underscoring the growing appeal of digital assets as a hedge against traditional banking constraints. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
NBC News
5 days ago
- Business
- NBC News
Trump Media says it's raising $2.5 billion to buy bitcoin
LAS VEGAS — Trump Media announced Tuesday a $2.5 billion raise from institutional investors to bankroll one of the largest bitcoin treasury allocations by a public company. Shares of the company fell about 10% following the news. It's the latest and most ambitious move in its evolution from a free-speech social platform to a financial services player. The deal includes $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for the purchase of bitcoin, which the company will now hold as a core treasury asset. the company said it has subscription agreements with about 50 institutional investors. The company also confirmed the bitcoin will be held with Anchorage Digital and — the same platform that recently inked a deal to help Trump Media launch its first exchange-traded funds. The announcement comes as bitcoin nears record highs and the year's biggest gathering of digital asset enthusiasts gets underway on the Las Vegas Strip: Bitcoin 2025. The conference helped solidify President Donald Trump 's image as the country's first ' crypto president.' This year, it's a full-court press from the Trump White House at the conference, with Vice President JD Vance, Don and Eric Trump, crypto czar David Sacks, and other top officials all attending. Trump Media's stock remains volatile, with shares down nearly 30% this year so far. The company has a market cap of about $5.3 billion, despite reporting just $3.6 million in revenue and a $400 million loss in 2024. Trump indirectly owns more than 114 million shares of Trump Media through a revocable trust. Devin Nunes, the company's CEO and a former California congressman, called bitcoin an 'apex instrument of financial freedom' and said this was just the first of many 'crown jewel' acquisitions the firm would pursue. He framed the move as a defensive strategy, saying it would help protect the company from what he described as ongoing 'discrimination by financial institutions' against conservative businesses. The firm has already inked a partnership with to bring a series of ETFs and digital asset products to market later this year, pending regulatory approval. Those funds will include baskets of crypto like bitcoin and native token, cronos, alongside traditional securities. They will be branded under Trump Media and offered to global investors across major brokerage platforms and on the app, which has more than 140 million users worldwide. The move deepens Trump's crypto footprint: World Liberty Financial, another Trump-affiliated entity, has already amassed a significant crypto stockpile, and the president signed an executive order earlier this year designed to establish a bitcoin reserve and a separate crypto stockpile for the federal government. The expansion into financial services builds on rising Republican anger over perceived banking discrimination against conservatives. Crypto industry leaders have also been testifying on Capitol Hill about the industry's struggle with debanking during President Joe Biden' s administration. Trump himself voiced frustration with Bank of America and JPMorgan executives during a recent appearance at the World Economic Forum in Davos, accusing them of 'locking out' conservative clients. The launch of along with the growing popularity of Trump-linked cryptocurrencies, appears to be the private sector response. The $2.5 billion bitcoin treasury move also follows a growing trend among politically-aligned businesses that are converting their corporate treasuries into bitcoin-heavy vehicles. It's a strategy popularized by Michael Saylor's MicroStrategy in 2020 — but now turbocharged by Trump's political movement and crypto allies. Jack Mallers is looking to rival Strategy with a new bitcoin company backed by Tether and SoftBank, and David Bailey, the architect behind another Trump-linked bitcoin play — Nakamoto Holdings — recently led a $710 million merger with healthcare firm KindlyMD, which will pivot from holistic opioid recovery to a crypto-first strategy. Bailey, a trusted crypto advisor to the Trump administration, described the play as: 'Strategy, squared.' 'Our total focus is on increasing the bitcoin per share,' Bailey previously told CNBC, outlining plans to acquire bitcoin-native companies across every major capital market.
Al Jazeera
5 days ago
- Business
- Al Jazeera
Trump Media to raise $2.5bn to invest in Bitcoin
The Trump Media and Technology Group will raise about $2.5bn to invest in Bitcoin, United States President Donald Trump's social media firm says, as it looks to diversify its revenue streams with a push into the financial sector. The company is raising the funds by selling $1.5bn in stock at its last closing price and $1bn in convertible notes priced at a 35 percent premium, it said in a statement on Tuesday. The money will be used to build a 'Bitcoin treasury', the company said. The Bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totalling $759m at the end of the first quarter. Crypto platforms Anchorage Digital and are to 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 percent 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 retail investment products, including cryptocurrency and exchange-traded funds aligned with Trump's policies. The Trump family, long rooted in skyscrapers and golf clubs, has opened multiple beachheads in cryptocurrencies, quickly gaining hundreds of millions of dollars. Its other crypto forays include Trump nonfungible tokens (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 US securities regulator about its plans to supervise exchange-traded funds (ETFs) due to be launched by Trump Media. Trump, who referred to cryptocurrencies in his first term as 'not money', citing their volatility and a value 'based on thin air', has shifted his views on the technology. During an event at his Mar-a-Lago club in Florida during his presidential campaign in May 2024, Trump received assurances that crypto industry backers would spend lavishly to get him re-elected. Last week, Trump rewarded 220 of the top investors in one of his other cryptocurrency projects, the $Trump meme coin, with a swanky dinner with him at his luxury golf club in northern Virginia, spurring accusations that the president was mixing his duties in the White House with personal profit.
CNBC
5 days ago
- Business
- CNBC
DJT shares fall 10% as Trump Media says it's raising $2.5 billion to buy bitcoin
LAS VEGAS — Trump Media announced Tuesday a $2.5 billion raise from institutional investors to bankroll one of the largest bitcoin treasury allocations by a public company. Shares of the company fell about 10% following the news. It's the latest and most ambitious move in its evolution from a free-speech social platform to a financial services player. The deal includes $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for the purchase of bitcoin, which the company will now hold as a core treasury asset. the company said it has subscription agreements with about 50 institutional investors. The company also confirmed the bitcoin will be held with Anchorage Digital and — the same platform that recently inked a deal to help Trump Media launch its first exchange-traded funds. The announcement comes as bitcoin nears record highs and the year's biggest gathering of digital asset enthusiasts gets underway on the Las Vegas Strip: Bitcoin 2025. The conference helped solidify President Donald Trump's image as the country's first "crypto president." This year, it's a full-court press from the Trump White House at the conference, with Vice President JD Vance, Don and Eric Trump, crypto czar David Sacks, and other top officials all attending. Trump Media's stock remains volatile, with shares down nearly 30% this year so far. The company has a market cap of about $5.3 billion, despite reporting just $3.6 million in revenue and a $400 million loss in 2024. Trump indirectly owns more than 114 million shares of Trump Media through a revocable trust. Devin Nunes, the company's CEO and a former California congressman, called bitcoin an "apex instrument of financial freedom" and said this was just the first of many "crown jewel" acquisitions the firm would pursue. He framed the move as a defensive strategy, saying it would help protect the company from what he described as ongoing "discrimination by financial institutions" against conservative businesses. The firm has already inked a partnership with to bring a series of ETFs and digital asset products to market later this year, pending regulatory approval. Those funds will include baskets of crypto like bitcoin and native token, cronos, alongside traditional securities. They will be branded under Trump Media and offered to global investors across major brokerage platforms and on the app, which has more than 140 million users worldwide.
