Trump Media Slams Financial Times: $3 Billion Crypto Investment Plan is 'Pure Nonsense'!
Trump Media Technology Group (parent company of Truth Social) launched a full-scale attack on May 26, vehemently criticizing the Financial Times for 'taking rumors as facts' and publicly denying reports of raising $3 billion for investments in Bitcoin and other cryptocurrencies. Previously, the newspaper cited six 'anonymous sources' stating that Trump Media planned to enter the crypto market by issuing stocks (targeting $2 billion) and convertible bonds ($1 billion), even mentioning its stock price surged 4.6% in a single day to $5.7 billion, suggesting a crypto strategy in the making.
💥 Trump Family's 'Crypto Offensive': Meme Coins, NFTs, and DeFi All Out
Although Trump Media denies the investments, the Trump family's 'ambiguous' relationship with cryptocurrencies is no secret:
On May 22, Trump hosted a 'Meme Coin Dinner,' launching 'Trump' and 'Melania' themed meme coins, provoking Democratic lawmakers to attack for conflicts of interest; their non-fungible token (NFT) series, DeFi project 'World Freedom Finance', and plans for a dollar-pegged stablecoin are positioning Trump as the 'Crypto President'; they even transferred 53% of Trump Media's equity to a trust fund managed by his son, Donald Jr., intensifying speculation about his 'financial entanglements after returning to the White House.'
🌍 Global Institutions' 'Bitcoinization' Craze: From Health Tech to DeFi
Trump Media's denial does not dampen the enthusiasm of global institutions for 'hoarding coins':
Swedish health tech company H100 Group AB announced on May 22 that it is transforming into a Bitcoin financial company; Strive Asset Management followed suit on May 7, joining the 'Bitcoin Strategic Reserve' movement; the largest Bitcoin holder, Strategy Company, recently increased its holdings by 4020 BTC for $427.1 million, bringing total holdings to 580,250 BTC. Despite stock price pressures from executive sell-offs and lawsuits, it is still viewed as an industry benchmark.
