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Trump Media and Technology Group has denied a Financial Times report that it plans to raise $3 billion to buy Bitcoin and other cryptos, slamming its ”dumb writers listening to even dumber sources.”
That’s after the newspaper reported on May 26 that the company was looking to raise the capital through a mix of equity and convertible bonds, citing six people the outlet claimed were briefed on the matter.
FT Said Trump Media To Raise $2B In Equity, $1B In Convertible Bonds
According to the report, Trump Media was planning to issue $2 billion in equity and $1 billion in convertible bonds for the total $3 billion raise.
The equity was expected to be sold at market price at the closing price for Trump Media (DJT) shares on May 23. During the trading session, the company’s stock jumped over 4% to close the day at $25.72, pushing the company’s market capitalization to $5.7 billion, according to Google Finance data.
Had Trump Media raised the capital and bought Bitcoin and crypto as the Financial Times report said, the company would have joined the growing number of public businesses that have added BTC to their reserves. Currently, Strategy leads the way with its holdings of 576,230 BTC, according to BitcoinTreasuries.
Trump’s Crypto Involvement Being Scrutinized
If Trump Media had indeed bought Bitcoin, it would have resulted in even more scrutiny over the family of US President Donald Trump’s involvement in crypto.
That’s after Trump himself hosted a VIP dinner for the top 220 holders of his TRUMP meme coin. Senator Elizabeth Warren called the event an “orgy of corruption.”
Honored to be at the Trump Crypto dinner with @GetTrumpMemes
Going to be a great night! pic.twitter.com/H4fBZbtxKf
— Jack (@0xLeoInRio) May 22, 2025
Several lawmakers have also raised concerns over potential conflicts of interest regarding Trump’s crypto ventures, saying they could benefit from his ability to influence crypto regulation.
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