Market News
Trump Media to raise $3 billion to spend on cryptocurrencies, FT reports
May 26 (Reuters) - U.S. President Donald Trump's social media firm, Trump Media & Technology Group (DJT.O)
, opens new tab, plans to raise about $3 billion to spend on cryptocurrencies such as bitcoin, the Financial Times reported on Monday, citing people familiar with the matter. Trump Media aims to raise $2 billion in fresh equity and $1 billion more through a convertible bond, the report said.
The terms, timing and size of the company's capital raise could still change, the FT report said.
