Trump Media Shuts Down Report of $3B Crypto Investment Plan

Trump Media and Technology Group (TMTG), founded by President Donald Trump, has denied reports that it intends to raise $3 billion through equity and convertible bonds to invest in Bitcoin and other cryptocurrencies.

The Financial Times recently claimed that Trump Media is preparing to raise the funds, citing information from six individuals said to be familiar with the discussions. In response, TMTG dismissed the report in sharply critical terms, accusing the publication of relying on unreliable sources and referring to its journalists as “dumb writers” taking cues from “even dumber sources.”

The report indicated that Trump Media was allegedly preparing to raise $2 billion through equity offerings and an additional $1 billion via convertible bonds. The equity portion was said to be priced based on the company’s market value at the close of trading on May 23.

If the reported plan proves accurate, it would position Trump Media alongside firms like MicroStrategy, which is widely recognized for its substantial cryptocurrency acquisitions.

This new move by a Trump-affiliated company is drawing fresh attention to the president’s expanding footprint in the digital asset space. The development sparked heightened scrutiny from Democratic lawmakers, who have voiced concerns over the Trump family’s deepening ties to crypto ventures.

Trump Media Backlash Amid Meme Coin Dinner

Opposition has intensified in recent weeks, with some members staging protests in response to President Trump’s high-profile meme coin dinner.

In late April, U.S. Senator Jon Ossoff of Georgia expressed support for the impeachment of President Donald Trump, citing concerns over the meme coin dinner which was attended by major holders of the TRUMP meme coin. Ossoff noted the gathering as a key factor in his decision, raising questions about potential conflicts of interest and the president’s involvement in crypto-related activities.

Ossoff further condemned Trump as “selling access” to the presidency. “When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense,” Ossoff stated. 

President Trump’s meme coin dinner has drawn criticism (link to Meme Coin Dinner Food story) from several attendees, who described the dining experience as underwhelming. The quality of the meal has prompted some to question whether the substantial investments made in the TRUMP meme coin made by the attendees, which secured them an invitation, were justified.

Additionally, President Trump faced criticism for his speech during the event, with one internet personality describing the speech as “pretty much bullshit.” Attendees noted that Trump read from a prepared script and made broad statements about cryptocurrency, referring to it as something that may be “special.” He reportedly left the venue immediately after his address, prompting further disappointment among guests.

Read More

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• Millions Made, Millions Lost: Trump Meme Coin Fuels Crypto Divide
• TRUMP Meme Coin at Center of Bribery Allegations by Senator Murphy [Video]

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.