Trump Media Denies $3B Crypto Investment Plan Amid Mounting Scrutiny
Trump Media and Technology Group (TMTG), the company behind the Truth Social platform, has denied a recent report claiming it plans to raise $3 billion to purchase Bitcoin and other cryptocurrencies.
The denial came after the Financial Times published a May 26 report citing six sources familiar with the matter, which stated that Trump Media was preparing to raise $2 billion through equity and another $1 billion via convertible bonds — financial instruments that can later be converted into company stock. The report suggested the funds would be used to buy crypto, following the corporate treasury strategies of firms like Strategy, Metaplanet, and Semler Scientific.
Trump Media hit back, telling the Financial Times that “apparently the Financial Times has dumb writers listening to even dumber sources.” The company has not responded to additional requests for comment, including one from Cointelegraph.
No Official Crypto Play — Yet
If accurate, the report would mark the most aggressive crypto treasury move yet from a media company and could make Trump Media one of the largest corporate holders of digital assets. On May 23, Trump Media’s stock (DJT) closed at $25.72, giving the company a market cap of $5.7 billion. According to the report, the equity would be sold at market price based on that valuation.
However, TMTG’s outright denial suggests the company may be trying to distance itself from further controversy as pressure mounts over the Trump family’s growing ties to the crypto sector.
A Pattern of Bitcoin-Friendly Moves
Although the company denies raising funds for crypto buys, the idea wouldn’t be far-fetched. In recent months, firms like Michael Saylor’s Strategy and Japan’s Metaplanet have made headlines for turning their balance sheets into Bitcoin-focused treasuries. These moves are often framed as hedges against inflation and alternatives to cash reserves in uncertain markets.
Trump Media has already signaled interest in blockchain. In March, it signed a non-binding agreement with Crypto.com and Yorkville America Digital to develop “Made in America”-themed crypto ETFs. The company also owns the Official TRUMP memecoin and is linked to World Liberty Financial, a decentralized finance platform planning to launch a stablecoin.
Growing Political Blowback
The Trump family’s growing involvement in crypto has attracted increasing criticism from Democratic lawmakers, especially as bipartisan legislation on stablecoins and digital asset regulation makes its way through Congress.
Following a private May 22 dinner with the top 220 holders of Trump’s TRUMP memecoin, lawmakers, including Representative Maxine Waters and Senator Elizabeth Warren, have called for investigations into Trump’s crypto dealings and demanded greater transparency. Some Democrats introduced the “Stop TRUMP in Crypto Act,” which seeks to block Trump and his family from profiting off digital assets while in office.
Critics argue that Trump’s direct financial interests in crypto — including NFT collections, memecoins, and potential ETF initiatives — could create conflicts of interest as his administration considers how to regulate the growing industry.
Transfer of Ownership Raises Questions
Adding to the scrutiny, the Financial Times reported that Trump has transferred his 53% ownership stake in Trump Media to a revocable trust managed by his son, Donald Trump Jr. The move raises questions about whether the former president still retains indirect control or financial benefit from the company’s actions — particularly if they involve crypto.
For now, Trump Media appears to be denying any major crypto purchase plans. But in the current political and financial climate, few would be surprised if digital assets remain central to both its strategy — and its controversy.
