The company behind President Donald Trump’s Truth Social platform is reportedly planning a massive $3 billion capital raise, with funds earmarked for investment in the cryptocurrency space. According to a Financial Times report published Monday, Trump Media and Technology Group (TMTG) aims to raise $2 billion in new equity and an additional $1 billion through a convertible bond.
The information was confirmed by six independent sources familiar with the company’s financial strategy. “TMTG’s capital raise could be announced ahead of a big meeting of crypto investors and advocates in Las Vegas this week,” the report stated. The event is expected to feature prominent Trump allies, including Vice President JD Vance, Donald Trump Jr., Eric Trump, and Trump’s designated “crypto tsar,” David Sacks.
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The company, however, responded with sharp criticism of the reporting outlets, denying the claims in a characteristically combative fashion. In a statement issued after the reports, TMTG lashed out at Reuters and the Financial Times. “Apparently, the Financial Times has dumb writers listening to even dumber sources,” the group stated, accusing the publications of spreading “fake news.”
Despite the denial, the Trump family’s increasing involvement in the crypto industry has been well-documented. Their ventures include a line of non-fungible token (NFT) trading cards, the promotion of two “memecoins,” and partnerships with companies such as American Bitcoin and World Liberty Financial.
Just last week, Donald Trump hosted a private dinner for top investors in his memecoin project, further underlining the family’s pivot toward digital assets. Meanwhile, the current administration has signaled openness to broader cryptocurrency adoption and development in the U.S. financial system.
If confirmed, the capital raise would represent one of the largest single financial plays in the crypto sector by a politically connected media entity. While Truth Social itself has struggled to gain significant market share among social media platforms, the platform could serve as a launching point for broader blockchain and crypto-related ventures.
The Las Vegas crypto conference, where Trump associates are expected to speak, may offer more clarity on the company’s direction and potential announcements tied to the reported capital raise.
As of now, with TMTG aggressively denying the report and media speculation mounting, questions remain about how deep the Trump brand intends to go into the volatile world of digital currencies. One thing is clear: the intersection of politics, media, and cryptocurrency is drawing closer, and TMTG is positioning itself near the center of that convergence.
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