The Trump family’s media venture, Trump Media & Technology Group (TMTG), is preparing to raise up to $3 billion to invest in cryptocurrencies like Bitcoin, according to reporting by the Financial Times. The bold move comes amid a broader push by former President Donald Trump and his allies to position the U.S. as a global leader in digital assets.
According to six individuals briefed on the matter, TMTG — which owns the social media platform Truth Social — is seeking $2 billion in new equity and an additional $1 billion through a convertible bond. The capital raise could be announced as early as this week, coinciding with a major cryptocurrency event in Las Vegas. Expected speakers at the event include Trump’s sons Donald Jr. and Eric, Vice President JD Vance, and David Sacks, a vocal crypto advocate dubbed Trump’s “crypto tsar.”
While terms and timing are still subject to change, sources told the Financial Times that interest in the offering has surged recently, prompting TMTG to increase its fundraising target.
In response to the Financial Times report, TMTG issued a sharply worded statement, saying “apparently the Financial Times has dumb writers listening to even dumber sources,” but offered no further comment. The White House declined to comment, and Donald Trump Jr.’s team did not respond to requests for a statement.
This capital-raising effort is the latest in a series of crypto-related ventures tied to the Trump family. These have included a Trump-branded NFT trading card collection, memecoins, and stakes in crypto firms such as American Bitcoin and World Liberty Financial. The company also plans to launch a cryptocurrency-focused exchange-traded fund (ETF).
Trump’s growing involvement in the crypto sector — including his pledge to make the U.S. the “crypto capital of the world” — has drawn both attention and scrutiny. Critics warn of potential conflicts of interest, particularly given the administration’s policy influence over financial markets.
TMTG’s strategy mirrors that of companies like MicroStrategy (now called Strategy), which has used equity and debt to accumulate large holdings of Bitcoin. MicroStrategy’s valuation has soared above $100 billion thanks to this approach.
TMTG shares closed Friday at $25.72, giving the company a market capitalization of nearly $6 billion. ClearStreet and BTIG are reportedly among the brokers being considered to underwrite the offering.
After his 2024 re-election victory, Trump transferred his 53% stake in TMTG — currently valued at approximately $3 billion — to a revocable trust controlled by Donald Trump Jr., who now holds sole investment and voting power over the entity’s shares.
The Financial Times also notes a recent surge in crypto-related deals under the Trump administration. These include a $3.6 billion agreement involving Tether, SoftBank, and Twenty One Capital, and Ripple’s $1.25 billion acquisition of digital asset prime brokerage firm Hidden Road. Industry insiders told the FT that more such deals are expected in the near future.
