Trump Media and Technology Group, a company that owns the Truth Social social platform, said that her $ 400 million purchase program will not affect the plans to create the Bitcoin treasury.
In Monday notification, the President of the Media of the US President Donald Trump he said The Directors’ Council allowed redemption to $ 400 million of ordinary shares. He said that the purchase of shares does not affect the company’s strategy regarding the establishment of the Bitcoin (BTC) treasury using over $ 2 billion in funds.
The media group initially denied the report that they were planning to raise about $ 3 billion to invest in cryptocurrency, but later confirmed capital financing worth $ 2.5 billion for the purchase of Bitcoin. According to the Monday notification, the Bitcoin Trump Media strategy “contained a private offer of around $ 2.3 billion”.
The American Commission of Securities and Stock Exchange (SEC), chaired by Trump nominated by Trump Paul Atkins, approved the registration declaration for the Bitcoin Bitcoin Bitcoin contract in June. The notification showed that the $ 2.3 billion of Bitcoin investments comes from resale 56 million shares and 29 million shares related to spare banknotes under debt and own capital contracts.
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Trump Media also submitted a request to launch the Bitcoin Exchange (ETF) Trade Fund, which socially submitted the social truth and trade in a double ETF shares related to Bitcoin and Ether (ETH). SEC has approved ETF offers at Bitcoin Spot since January 2024 and Spot Ether ETFS from May 2024.
https://www.youtube.com/watch?v=VKC5QCRVDC0
National Bitcoin stock plans under the command of Trump
Trump also proposed, through a March executive ordinance, that the US establishes a “strategic Bitcoin reserve” and “digital supply of assets”. The reserves would maintain digital assets to lose the US government, but Trump’s advisers suggested other ways to expand stocks.
Legislators in the US Senate stood a subcommittee on investigations accused The president of using his position in the government “to enrich cryptocurrency companies” by establishing stocks.
The announcement of Media Trump came the same day when California’s senator Adam Schiff introduced legislation to master the US President, the first family and other public officials to issue, sponsorship or support digital assets. Trump Media, under the name of the president, may violate the law with the proposed Bitcoin strategy if she were to do so.
Warehouse: Trump’s crypto projects are raised by a conflict of interest, questions about trade in confidential information
