Will Trump's promise to turn the United States into the global 'capital of cryptocurrency' soon become a reality? Discover the details.
Shortly after his historic return to the White House earlier this year, President Trump pledged to make the United States the 'capital of cryptocurrency in the world.'
Reports have indicated that Donald Trump's media company, TMTG, plans to raise $3 billion for cryptocurrency projects, including Bitcoin. This move comes following Trump's pledge to make the United States the 'capital of cryptocurrency' and his administration's efforts to ease regulatory constraints on the industry. An announcement regarding the capital increase is expected before a major cryptocurrency investors' meeting this week.
The Financial Times reported on Monday, citing informed sources, that Trump's media company plans to raise $3 billion to spend on Bitcoin and other digital currencies. The company aims to raise $2 billion from new equity and another $1 billion through convertible bonds, according to the report. The Trump Media and Technology Group (TMTG) is developing and operating the 'Truth Social' app, managed by the president's family.
Source: economictimes.com
