Trump Media witnesses the launch of a new SPAC for the acquisition of a cryptocurrency company
March 20, 2025
Trump Media has filed for a Special Purpose Acquisition Company (SPAC) in preparation for acquiring cryptocurrency companies in the future. The media company affiliated with the American president has conducted several acquisitions over the past year.
The Asian cryptocurrency community woke up to the news of Bitcoin's price briefly reaching $87,000 on the morning of March 20. However, the cryptocurrency then fell back to $85,000. Despite this decline, the market generally reflects rising prices, which resulted from Trump's request to the Federal Reserve to lower interest rates.
Meanwhile, Trump Media, affiliated with the American president, has taken steps that caught the attention of members. Trump Media registered with the U.S. Securities and Exchange Commission (SEC) as a Special Purpose Acquisition Company (SPAC) to raise funding. Furthermore, the company set a target of $179 million for financing the acquisition of cryptocurrency companies.
According to a Forbes report, three senior officials from Trump Media registered in the open-check company. They plan to use the funding to acquire a cryptocurrency-focused company soon.
