Trump Media establishes Bitcoin Treasury Department through a $2.5 billion investment transaction
CFTC Chairman Summer Melsinger will open up about future cryptocurrency regulations in the Kraman Countdown.
Trump Media and Technology Group On Tuesday, it announced a $2.5 billion deal with institutional investors to create the Bitcoin Treasury Department.
The company said in its release that the deal, which is scheduled to close around Thursday, May 29, will feature $1.5 billion in shares and a $1 billion convertible note.
The $2.5 billion deal is made through the provision of private placements. Bitcoin Ministry of Finance. Trump Media is the parent company of Social Media Approx. Truth Social.
Donald Trump will respond at the 2024 Bitcoin Conference in Nashville, Tennessee. (Getty Images)
“We view Bitcoin as a pinnacle of financial freedom, and Trump Media holds cryptocurrency as a key part of our assets,” said Devin Nunes, CEO of Trump Media.
ETF Products Trump Media and crypto.com Partners
Trump Media’s Bitcoin Treasury Department is created through a $2.5 billion transaction. (Jakub Porzycki/Nurphoto via Getty Images)
Nunes explained that the company is watching. Ministry of Cryptocurrency As a way to secure Trump media from financial institutions that can reluctantly or discriminate against businesses.
“This investment, the first acquisition of Crown Jewel assets, will help protect us from harassment and discrimination by financial institutions that plague many Americans and US companies, creating a synergistic effect of subscription payments, utility tokens and other planned transactions through the course of a planned society and truth,” Nunes said.
“This is a major step forward in the company’s plan to evolve into a holding company by acquiring crown gem assets that generate additional profits consistent with America’s first principles,” Nunes added.
Trump Media shares surge after companies announce expansion into financial services
Trump’s media CEO Devin Nunes said the Bitcoin Treasury Department would allow the company to invest in “crown jewel assets.” (Dylan Hollingsworth/Bloomberg via Getty Images)
Crypto.com and Anchorage Digital provide custody services to Trump Media’s Bitcoin Treasury.
Trump Media stocks fell about 10% during trading sessions Tuesday morning.
In January, Trump Media announced plans to launch Truth.fi. Financial Services and Products, It is said that it will be rolled out this year, including multiple investment vehicles.
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Trump Media in March provided in partnership with Crypto.com Funds traded on the exchange (ETFs), including ETFs that focus on digital assets and baskets of cryptocurrency, including Bitcoin.