Trump Media Rejects Claims of $3 Billion Crypto Investment Plan

On May 26, 2025, Trump Media & Technology Group (TMTG), the company behind Truth Social, issued a firm denial of reports suggesting it was planning to raise $3 billion to invest in Bitcoin and other cryptocurrencies. The rebuttal came in response to a Financial Times article that cited six anonymous sources claiming TMTG aimed to finance the purchase through $2 billion in equity and $1 billion in convertible bonds.

Addressing the Rumors

The Financial Times report, published earlier on May 26, triggered widespread discussion within financial and crypto communities, amplifying speculation that Trump Media & Technology Group (TMTG) was preparing to make a significant move into the digital asset market. The article suggested that the capital raise could be announced at a major cryptocurrency conference in Las Vegas, where Vice President JD Vance and Trump’s sons, Donald Jr. and Eric, were expected to speak. It positioned TMTG as following a trend set by companies like Strategy and Metaplanet, which have allocated substantial funds to Bitcoin as a treasury reserve asset.

However, TMTG swiftly dismissed the report as inaccurate. The company criticized the Financial Times, alleging it relied on “dumb writers listening to even dumber sources.” This sharp rebuke highlights TMTG’s sensitivity to speculation about its financial strategies, particularly in the context of cryptocurrencies, which have become a politically charged topic.

Trump’s Crypto Ties and Market Speculation

The Trump family’s involvement in cryptocurrency has been a focal point of discussion in recent months. President Donald Trump has publicly advocated for the United States to become the “crypto capital of the world,” a stance he emphasized during his campaign and through an executive order in March 2025 establishing a Strategic Bitcoin Reserve. The family’s ventures include the TRUMP and MELANIA memecoins, a stake in the Bitcoin mining firm American Bitcoin, and the decentralized finance platform World Liberty Financial (WLFI), along with its recently launched stablecoin project, USD1.

These activities have fueled speculation about TMTG’s potential crypto ambitions. Earlier in 2025, TMTG announced plans for Truth.Fi, a fintech startup, approved to invest up to $250 million of its cash reserves in Bitcoin, ETFs, and other crypto-related securities. The Financial Times report appeared to build on this narrative, suggesting a far larger commitment to digital assets. However, TMTG’s denial clarifies that no such $3 billion plan exists, at least for now.

Regulatory and Ethical Concerns

The Trump family’s crypto activities have drawn scrutiny from lawmakers and regulators. A memo circulated among congressional Democrats, as reported by The Guardian, accused TMTG of pursuing a “massive crypto scam” and called for safeguards to prevent exploitation of the financial system. Additionally, Senators like Elizabeth Warren have pushed for legislation to limit elected officials’ participation in certain crypto ventures, citing conflicts of interest. The rapid expansion of the Trump family’s crypto empire, including memecoins and mining operations, has raised concerns about transparency and potential regulatory violations. TMTG’s denial may be an effort to mitigate these concerns and avoid regulatory scrutiny.

Market reactions to the initial report were relatively calm. TMTG’s stock ($DJT), which closed at $25.72 on May 23, remained relatively stable amid news of the company’s potential crypto investments, with after-hours trading reflecting a price of $25.75.

Looking Ahead

While TMTG has refuted the $3 billion crypto investment plan, its existing crypto-related initiatives suggest it remains active in the space. The Truth.Fi Venture and the Trump family’s broader crypto portfolio indicate a strategic interest in digital assets, even if on a smaller scale than speculated.

Previously, a shareholder letter from TMTG dated April 29, 2025, revealed plans to introduce a new utility token and a related digital wallet for its ecosystem. This suggests that, despite the risks of regulatory scrutiny, TMTG has ambitious plans to deepen its involvement in the cryptocurrency market.

As the cryptocurrency market continues to evolve—with Bitcoin consolidating near all-time highs and corporate adoption growing—TMTG’s next moves will be closely watched.