Trump Media aims to raise $3B for crypto asset acquisitions: FT

Trump Media and Technology Group (TMTG), which runs Truth Social, is seeking to raise $3 billion for crypto asset acquisitions, the Financial Times reported Monday, citing six sources familiar with the plan.

The company targets $2 billion in fresh equity and an additional $1 billion through convertible bonds, sources told the FT.

The approach mirrors that of Strategy, which just extended its Bitcoin buying streak to a seventh consecutive week after adding 4,020 BTC to its holdings. The firm often funds its Bitcoin purchases through debt and equity offerings.

An announcement on the capital raise may come before the 2025 Bitcoin Conference kicks off in Las Vegas from May 27 to 29, the report noted.

The event, the largest of its kind, will feature a lineup of high-profile figures, such as Vice President JD Vance, Trump’s sons Donald Jr. and Eric, and Trump’s top crypto advisor David Sachs. Saylor will also attend the conference alongside other key industry players.

The offering size has increased in recent weeks due to strong demand, according to two people familiar with the plans.

TMTG neither confirmed nor denied the reported fundraising plans. In a statement to the FT, the company criticized the outlet’s reporting and sources, but did not offer further clarification.

The initiative represents the Trump family’s latest venture into crypto assets, as the president pledges to make the US the “crypto capital of the world.” The move comes as Bitcoin reached a record high of $109,000 last week.

The secondary share raise will be conducted on at-the-market terms, with shares expected to sell near their Friday closing price of $25.72, representing a market value of nearly $6 billion.

The Trump family’s crypto ventures include an NFT trading card, two meme coins, and investments in crypto mining venture American Bitcoin and stablecoin backer World Liberty Financial.

TMTG also intends to launch ETFs tracking Bitcoin and Cronos in partnership with Crypto.com.

ClearStreet and BTIG are among the potential underwriters for the deal, according to two people familiar with the matter.

Donald Trump Jr. now oversees his father’s 53% stake in TMTG, worth approximately $3 billion, through a revocable trust with sole investment and voting power over the shareholdings.

While TMTG did not confirm the fundraising, it fired back at the Financial Times report, telling The Block, “Apparently, the Financial Times has dumb writers listening to even dumber sources.”

Updated to include TMTG’s response via The Block.