Trump Media and Technology Group operator of Trump’s social media platform ‘Truth Social’, the streaming platform ‘Truth +’, and the fintech brand ‘Truth Fi’ has entered into subscription agreements with approximately 50 investors, all while Trump is President of the United States.
Trump Media (the ‘company’) agreed to issue and sell $1.5 billion (US) in Trump Media’s common stock and $1 billion (US) for gross proceeds of an aggregate of approximately $2.5 billion (US) in a private placement offering.
The Company intends to use the proceeds of sale for the creation of a bitcoin treasury in one of the largest bitcoin Treasury deals of any public company, and is intending to expand its reach through Trump’s ‘America First’ economy.
Trump Media’s CEO and Chairman, Devin Nunes, said: “We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets.
“Our first acquisition of a crown jewel asset, this investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms, and will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+.
“It’s a big step forward in the Company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,” Nunes said.
“The mission of Trump Media is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back.
“Trump Media operates Truth Social, a social media platform established as a safe harbour for free expression amid increasingly ‘harsh censorship by Big Tech corporations’, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content.
Trump Media is also launching Truth.Fi, a financial services and FinTech brand that incorporates America First investment vehicles.
Shannon Devine, Managing Director of MZ Group in North America (TMTG) did not respond to requests for comment.
The White House and Donald Trump did not respond to a request for comment.
