The media company of the Trump family intends to raise $ 3 billion to buy cryptocurrencies like Bitcoin, in a bet on digital assets, writes FT. Trump Media & Technology Group (TMTG), the company behind the Truth Social Platform, aims to attract $ 2 billion through a capital increase and another billion through a convertible bond issue. The announcement regarding this financing could be made before an important conference of cryptocurrency investors and supporters, which will take place this week in Las Vegas. The event expected to attend JD Vance Vice President, the sons of the president – Donald Jr. and Eric Trump – as well as the «Crypto Tsar» of the Trump administration, David Sachs. TMTG issued a tough statement in the reaction to the article FT, declaring: «It seems that the Financial Times has stupid reporters listening to even worse sources», without commenting on the background. The representatives of Donald Trump Jr. did not respond to the commentary requests. A white house spokesman also refused to comment. This approach represents the most recent example of the increasingly deeper involvement of the Trump family in the field of cryptocurrency, an involvement that has aroused concerns about possible conflicts of interest. President Trump said he wants the US to become the «World Cryptocurrency Capital». The increasing interest in crypto has led to a series of transactions meant to take advantage of the market return. Bitcoin price has reached a new record, reaching $ 109,000 last week. The TMTG strategy is similar to that of Strategy (former Microstrategy), a former software company whose market value has exceeded $ 100 billion after issuing debts and shares to buy Bitcoin worth tens of billions. The secondary offer of shares will be made by an «AT-The-Market» mechanism, which means that the titles will be sold at prices close to the closing quotation on Friday. TMTG shares closed on $ 25.72 on Friday, which gives the company a market value of almost $ 6 billion.
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