Trump Media's Bold Crypto Venture: A $3 Billion Capital Quest

U.S. President Donald Trump's media company, Trump Media & Technology Group, is reportedly setting its sights on raising $3 billion to invest in cryptocurrencies, including bitcoin, according to the Financial Times. Insiders suggest the firm aims to secure $2 billion through fresh equity capital, with an additional $1 billion sourced via convertible bonds.

Despite the ambitious fundraising plans, Trump Media has labeled both Reuters and the Financial Times as "fake news," dismissing their inquiries. Meanwhile, the company is actively pursuing mergers and acquisitions to expand into financial services, while also unveiling new retail investment offerings tied to Trump's policy vision.

This strategic move comes amidst regulatory scrutiny and ethical criticisms. As the company plans to announce its capital raise, prominent figures like VP JD Vance and Trump's sons, Donald Jr. and Eric, are anticipated to address investors at an upcoming crypto meeting, contributing to a recent uptick in Bitcoin's value.

(With inputs from agencies.)