Trump Media and Technology Group runs Truth Social and plans to launch investment products called Truth.Fi. The Financial Times reported that the company wants to raise 3 billion dollars for cryptocurrency investments. They would collect 2 billion dollars through stock sales and another 1 billion dollars through special bonds. The company currently holds 777 million dollars in cash from the end of last year. Media reports suggest Trump Media will announce this fundraising before the Bitcoin conference in Las Vegas.
Trump Media leadership approved spending 250 million dollars on creating special investment accounts and funds under the Truth.Fi name. The board made this decision back in January and launched the service in April. Yorkville America Equities and Index Technologies Group became partners for these investment offerings. Company directors also created a fund to buy other businesses that support American economic values. They want to find companies that share similar political and business goals.
Trump Media executives called Reuters and the Financial Times fake news outlets after reporters asked about the fundraising plans. The company denied reports about raising billions of dollars for crypto investments. Stock prices rose 3.5 percent during the past week of trading. Despite recent gains, share values have fallen 24.4 percent since January started.
Trump Media leadership approved spending 250 million dollars on creating special investment accounts and funds under the Truth.Fi name. The board made this decision back in January and launched the service in April. Yorkville America Equities and Index Technologies Group became partners for these investment offerings. Company directors also created a fund to buy other businesses that support American economic values. They want to find companies that share similar political and business goals.
Trump Media executives called Reuters and the Financial Times fake news outlets after reporters asked about the fundraising plans. The company denied reports about raising billions of dollars for crypto investments. Stock prices rose 3.5 percent during the past week of trading. Despite recent gains, share values have fallen 24.4 percent since January started.
