Trump Media & Technology Group Corp (NASDAQ:DJT), the company behind Truth Social and controlled by the Trump family, is seeking to raise $3 billion to invest in cryptocurrencies such as bitcoin, the Financial Times reported on Monday.
The company plans to raise $2 billion through an equity offering and another $1 billion via a convertible bond, the report said.
An announcement could come ahead of a major crypto gathering in Las Vegas this week, where US Vice President JD Vance, Donald Trump Jr., Eric Trump, and crypto advocate David Sacks are expected to attend.
TMTG dismissed the FT’s reporting, saying in a statement that the newspaper “has dumb writers listening to even dumber sources,” but did not comment further.
The fundraising would mark a significant expansion of the Trump family’s crypto ambitions, which have included NFT trading cards, memecoins, and stakes in blockchain ventures. It comes as President Trump pledges to make the US the “crypto capital of the world,” according to the report.
TMTG, which closed Friday with a market value near $6 billion, is also planning a crypto-focused exchange-traded fund, the FT said.