The Trump Media and Technology Group, the company behind Donald Trump’s social media platform, TrustSocial, has denied the claims of raising $3 billion for crypto investment. Earlier today, it was reported by several media outlets that it intends to raise billions of dollars to buy cryptocurrencies.
As per a most recent report of the Financial Times, the Trump Media and Technology Group is aiming to raise $3 billion in funding to buy cryptocurrencies, the funding consisting of $2 billion in equity and $1 billion via convertible bond.
It is worth noting that the information reported by FT was reportedly backed by the six close people aware of the fact. Yet the TMTG refused the claims of raising funds and called the source of the Financial Times a “ Dump” and its writers are unreliable.
Other than FT, several other reports say that TMTG is also planning mergers, acquisitions, and other partnership deals. However, as of this writing, there is no official confirmation of this merger from Trump’s Media Group.
In a letter to shareholders on April 30, 2025, TMTG stated that the company intends to incorporate a utility token into its Truth Digital Wallet to facilitate payments for Truth+ memberships; this token might be extended to additional Truth ecosystem services, further integrating crypto into its platforms.
Is the Trump Family Expanding Its Crypto Grip in Term 2?
Especially after Donald Trump returned to the White House as the president for the 2nd time, the Trump family is allegedly expanding its dominance in the crypto market.
The allegations over this political family remain the same, that it has been using exercising power to build its business empire.
As per data, after portraying himself as a pro crypto leader in the election in 2024, his family launched the World Liberty Financial, which is a decentralized finance platform where, through DT marks DEFI LLC, holds a 60% stake and is entitled to 75% of net revenue from token sales.
The WLF has raised around $500 million through its $WLF token with a significant investment from an Abu Dhabi-based firm.
Most recently, the World Liberty Financial has joined hands with the Crypto Council of Pakistan. The deal came in media reports at a time of growing tension between India and Pakistan.
Following this deal, the Pakistan crypto council has passed a few crucial orders which will shape their path in the near future.
To enter into Bitcoin mining, Eric Trump’s crypto company, American Bitcoin, announced in May of this year that it was merging with Gryphon Digital Mining in order to go public on the Nasdaq.
The organization, which was founded in March 2025 with a majority interest held by Hut 8, intends to become a prominent platform for Bitcoin accumulation by utilizing the Trump name to increase visibility.
Eric Trump is an American Businessman and the son of the 47th president, Donald Trump. Eric remains in the limelight because of his lavish lifestyle and bold statements, and in the American TV industry, he has faced criticism with the tag of nepotism.
