Trump Media to raise $3 billion to spend on cryptocurrencies, FT reports
Trump Media & Technology Group plans to raise $3 billion to invest in cryptocurrencies, including bitcoin. The company aims to secure $2 billion in new equity and an additional $1 billion through a convertible bond. The specifics regarding the terms, timing, and size of the capital raise may still change, according to a report by the Financial Times.
Adds details, attempt to get comment
May 26 (Reuters) - U.S. President Donald Trump's social media firm, Trump Media & Technology Group DJT.O, plans to raise about $3 billion to spend on cryptocurrencies such as bitcoin, the Financial Times reported on Monday, citing people familiar with the matter.
The company that runs the Truth Social streaming and social media platform aims to raise $2 billion in fresh equity and $1 billion more through a convertible bond, the report said.
The terms, timing and size of the company's capital raise could still change, the FT report said.
Trump Media Group did not immediately respond to a Reuters request for comment.
