Trump Media & Technology Group — the firm behind Truth Social, linked to former U.S. President Donald Trump — has dismissed claims that it’s planning to raise $3 billion to invest in Bitcoin and other cryptocurrencies.
On May 26, the Financial Times published a story citing six unnamed sources who claimed the company was preparing a $3 billion fundraising effort through a combination of equity and convertible bonds. In response, Trump Media pushed back strongly, telling the outlet, “It seems the Financial Times is relying on clueless sources and even less informed writers.”
Had the plan been accurate, Trump Media would be aligning itself with companies like Strategy, which have allocated significant capital toward cryptocurrency as a strategic asset.
According to the Financial Times, the alleged strategy involved $2 billion from stock sales and $1 billion through convertible bonds—financial instruments that can later be turned into company shares. The report also noted that these figures could still shift depending on market conditions.
The proposed equity raise was said to be priced at market value as of May 23, when Trump Media (DJT) shares closed at $25.72—a 4.6% gain for the day. At that point, the company’s market cap stood at roughly $5.7 billion.
The purported initiative would mirror the path of other firms like Metaplanet, Semler Scientific, and Strategy, which have all allocated funds toward Bitcoin as a hedge against inflation and to avoid stagnation as “zombie companies.”
Potential Scrutiny Around Trump’s Crypto Involvement
A move into the crypto space could have invited additional political and regulatory scrutiny, especially in light of the Trump family’s expanding involvement in digital assets. Some Democratic lawmakers have already criticized bipartisan crypto legislation due to Trump’s growing ties to the industry—criticism that intensified after a controversial “memecoin dinner” he hosted on May 22.
Trump’s crypto connections include his branded NFT collections, the Trump and Melania memecoins (TRUMP at $12.81 and MELANIA at $0.3619), and ventures like the decentralized World Liberty Financial platform and a stablecoin pegged to the U.S. dollar. Critics argue that these ties raise ethical concerns, given the potential for regulatory influence.
The Financial Times also reported that Trump had shifted his 53% stake in Trump Media into a revocable trust controlled by his son, Donald Trump Jr.
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