The media company of the Trump family plans to collect $ 3 billion to buy crypto like bitcoin.
Trump Media & Technology Group, which stands behind the Truth Social application and aimed to gather 2 billion dollars of fresh capital and another $ 1 billion, according to six people addressed to the issue, writes the Financial Times.
The collection of the capital of the TMTG could be published before the Great Meeting of the crypto investor and advocate in Las Vegas this week, which is expected to speak the Vice President JD Vance, Trump’s sons Donald Jr. and Eric and Trump Krypto Car David Sacks.
Terms, time and size of the Capital of the TMTG could still change. Two people familiar with the plans, they said for the Financial Times that the offer increased in the last few weeks due to high demand, sees SEEbiz.
TMTG said in the statement that “Financial Times obviously has stupid writers who listen to even stupid sources”, but did not give further comments. Representatives of Donald Trump Jr. did not respond to comment requirements. White house spokesman refused to comment.
The plan is the latest example of the Trump family penetration in the Cryptalute, which caused concern about the conflict of interest. The President vows to do now “Crypto capital of the world.”
His interest in the crypto encouraged a wave of job assembly with the aim of utilizing the revival of the crypto. The price of Bitcoin rose to a record $ 109,000 last week.
The TMTG approach is similar to the one that uses the strategy, the former software company whose market value has increased to more than $ 100 billion after used debt and capital offers for tens of billions of Bitcoins.
The secondary office offer will be carried out in market conditions, which means that shares are expected to sell close to its price at the end of trading on Friday. TMTG shares closed on Friday at $ 25.72, which is a market value of nearly $ 6 billion.
Family Involvement in the Cryptalute included the NTT card for trading, two memecains and shares in the margin of the crypto American Bitcoin and in the propeller of stable Coin World Liberty Financial.
TMTG also plans to run the ETF (stock traded fund) focused on crypto. Last week Trump organized a private gala dinner in his resort for the main investors in his Memecoin.
Clearstreet and BTIG are among brokers that could serve as insurers in the business, said two people.
After last year, Trump conveyed his 53-percent share in TMTG, which is currently valid for about $ 3 billion, in revocation of his son Donald Jr., which has an investment and voting right over the entity.
Public traffoo for sale Bianco checks, led by Brandon Lutnicka, the Son of the Minister of Howard Lutnicka, last month has made an agreement to buy Bitcoins called the Twenty One Capital in the business worth $ 3.6 billion in which Tether and Softbank are involved.
The company for cryptalute Ripple has also made an agreement worth $ 1.25 billion on buying the main brokerage company Hidden Road aimed at digital currencies, in the hope that institutional investors will further push in the crypt.
The industry executives told FT to expect a wave of similar jobs aimed at crypto, especially among the company to sell Bianco checks in the coming weeks.
