Trump Media & Technology Group (NASDAQ:DJT), the parent company of Truth Social, has firmly denied a recent Financial Times report claiming it plans to raise $3 billion for cryptocurrency investments, including Bitcoin. In a sharp rebuttal, TMTG dismissed the article, stating, “Apparently the Financial Times has dumb writers listening to even dumber sources,” and offered no additional comment.
According to the FT, TMTG allegedly aimed to raise $2 billion in equity and $1 billion via a convertible bond to finance major crypto purchases. The article cited six anonymous sources familiar with the matter and noted that the offering size had been recently increased due to robust demand. It also suggested the announcement could coincide with a major crypto conference in Las Vegas this week, where Vice President JD Vance and Donald Trump’s sons, Donald Jr. and Eric Trump, are expected to speak.
If true, the initiative would align with President Trump’s ongoing efforts to promote the U.S. as a leader in the global crypto market. His broader digital asset strategy reportedly spans Bitcoin, memecoins, NFTs, and potential crypto ETF ventures. The move also draws comparisons to MicroStrategy’s (NASDAQ:MSTR) high-profile, debt-funded Bitcoin accumulation model.
Despite the denial, the buzz surrounding the alleged plan adds to the growing intersection between Trump-affiliated ventures and the cryptocurrency ecosystem. The Financial Times has not issued a response to TMTG’s statement.
The controversy highlights increasing scrutiny around Trump-linked crypto initiatives, particularly concerning transparency and potential conflicts of interest as digital assets become a more prominent political and economic topic. Whether the speculation is unfounded or foreshadows future developments remains to be seen, but investor interest in TMTG’s crypto positioning is unlikely to fade soon.