SEC approves Bitcoin reserve plan
Trump Media and Technology Group (TMTG), the company behind President Donald Trump's social media platform Truth Social, is gradually transforming itself into a financial-media "fortress" with Bitcoin at its core, aiming to reshape the entire American economy towards a "Patriot Economy".
On June 13, the U.S. Securities and Exchange Commission (SEC) officially approved TMTG's registration statement (Form S-3) related to the plan to establish a massive Bitcoin reserve worth $2.5 billion. TMTG aims to sell approximately 56 million shares and another 29 million shares linked to convertible bonds, as part of a financial agreement with about 50 investors.
