Trump Media and Technology Group, the company behind US President Donald Trump’s Truth Social platform, is planning to raise $3 billion in a mix of equity and convertible bonds to buy Bitcoin and other cryptocurrencies.
The company denied any plans for a Bitcoin treasury in a statement to the Financial Times, calling the sources unreliable.
Trump Media will issue $2 billion in equity and $1 billion in convertible bonds, with the size of the raise subject to change.
The move may lead to increased scrutiny on the Trump family's crypto businesses, with critics raising concerns about conflict of interest and insider trading questions.