It's official: Trump Media raises $2.44B to build Bitcoin treasury

It’s official: Trump Media raises $2.44b to build Bitcoin treasury

Trump Media and Technology Group has closed a $2.44 billion private placement, aiming to establish one of the largest Bitcoin treasuries in the world

crypto.news

TL;DR: Trump Media & Technology Group just closed a massive $2.44 billion private placement with about 50 institutional backers—selling 55.8 million shares at $25.72 each (raising $1.44 billion) plus $1 billion of zero-coupon convertible notes due 2028 (convertible at $34.72). After fees, roughly $2.32 billion will fund a giant Bitcoin buy (custodied by Crypto.com and Anchorage) and everyday operations.

With liquid assets now north of $3 billion, CEO Devin Nunes hails the move as a step toward “financial freedom” in an “America First economy.” Trump Media joins the likes of GameStop and others beefing up corporate treasuries with crypto, and its stock ticked up on the news. The offering was led by Yorkville Securities and Clear Street, with Cantor Fitzgerald advising.