Trump Media Denies $3B Crypto Fundraising Report Amid Scrutiny 🚫💰
Trump Media & Technology Group (TMTG), the parent company behind Truth Social, has strongly denied a report by the Financial Times claiming the company is planning to raise $3 billion to invest in cryptocurrencies like Bitcoin. 📰🪙
The FT report, citing anonymous sources, alleged that TMTG aimed to raise $2 billion through equity and $1 billion via convertible bonds. However, TMTG clapped back sharply, stating:
"Apparently the Financial Times has dumb writers listening to even dumber sources." 💥🧨
Despite the denial, the market responded positively. TMTG’s stock ($DJT) jumped around 11% in premarket trading on Tuesday. 📈🚀
While the company rejected the $3B figure, it’s no secret that TMTG has shown interest in crypto. Earlier this year, it launched Truth.Fi, a digital asset initiative with plans to invest up to $250 million in Bitcoin, other cryptocurrencies, and ETFs. It’s also reportedly developing a digital wallet and its own native token. 🪙📲
The FT also mentioned that the alleged fundraising might have been announced at a high-profile crypto event in Las Vegas, possibly featuring big names like JD Vance, Donald Trump Jr., and Eric Trump. 🎤🎰
As of now, no official fundraising details have been confirmed by TMTG. But with the company’s increasing tilt toward crypto, the future remains uncertain—and worth watching. 👀⏳ #TrumpMedia #CryptoNews