Trump Media Firm Targets $3 Billion Crypto Raise Amid Conflict Concerns
Donald Trump’s media company, Trump Media & Technology Group Corp (NASDAQ:DJT), is planning to raise $3 billion to invest in Bitcoin and other digital assets. This move has intensified concerns about potential conflicts of interest during Trump’s second term as President.
The fundraising plan involves issuing $2 billion in new equity and $1 billion through a convertible bond. This development coincides with Trump’s promotion of cryptocurrency-friendly policies from the White House, including the proposed creation of a national Bitcoin reserve and more lenient federal oversight.
Trump has also been hosting investors in his personal memecoin, $TRUMP, at private events, further blurring the lines between his public office and private business interests. As the majority stakeholder in the media group, which is managed by his son Donald Jr., Trump’s involvement raises questions about whether he is using his public position for personal gain.
The fundraising effort is happening alongside a major Bitcoin conference, where Trump’s inner circle is expected to make appearances. Trump’s various crypto assets are estimated to have added nearly $3 billion to his family’s wealth, highlighting the significant financial interests at stake.
This development has sparked concerns about potential conflicts of interest and the integration of Trump’s business interests with his presidential duties. The situation underscores the complex relationship between Trump’s public role and his private business ventures, particularly in the rapidly evolving cryptocurrency sector.
