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Trump Media to raise $3 billion to spend on cryptocurrencies, FT reports

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Trump Media aims to raise $2 billion in fresh equity and $1 billion more through a convertible bond, the report said. The White House did not immediately respond to a request for comment. The company behind Truth Social, a streaming and social media platform, has been exploring potential mergers and acquisitions as it aims to diversify into financial services.
Trump Media & Technology Group, the company behind Truth Social, is set to raise up to $3 billion through a merger with Digital World Acquisition Corp., a special purpose acquisition company (SPAC). The merger, which has been delayed due to regulatory scrutiny and investigations, is expected to provide the necessary funds for the expansion of Truth Social, a social media platform launched by former President Donald Trump. The deal, if completed, would value Trump Media at around $18 billion, with Trump himself owning a significant portion of the company. The funds raised are intended to support the growth and development of Truth Social, as well as other potential ventures by Trump Media.

Read the Full Reuters Article at:
[ https://www.aol.com/news/trump-media-raise-3-billion-161254747.html ]