Trump Media & Technology Group (TMTG) – the company behind the Truth Social platform – has reportedly planned to raise $3 billion to invest in cryptocurrencies, including Bitcoin. According to a report by Financial Times, the proposed fundraising strategy includes $2 billion in new equity and $1 billion through a convertible bond. The group however, has denied the said report and related rumours.
The fundraising announcement is anticipated before a major crypto summit in Las Vegas, where prominent family members, Vice-President JD Vance and Trump’s crypto adviser are expected to speak. This move is also seen as part of President Trump’s broader commitment to positioning the US as a global leader in digital assets.
Notably, the Trump family has already been active in the crypto space through NFT trading cards, memecoins, and stakes in various crypto ventures. Trump last year transferred his majority TMTG stake (now worth around $3 billion) to a trust managed by his son Donald Jr.
Earlier this year, Trump Media revealed plans to expand into the financial services sector with the launch of a new platform called Truth.Fi. This initiative aims to offer a range of investment products, including cryptocurrencies like Bitcoin, exchange-traded funds (ETFs), and separately managed accounts (SMAs). The company announced an initial investment of up to $250 million. Truth.Fi is positioned as an extension of the Truth Social movement, targeting ‘American patriots’ seeking alternatives to traditional financial institutions.
In addition to investment services, TMTG has explored integrating cryptocurrency payment solutions into its ecosystem. A trademark application for TruthFi described it as a cryptocurrency payment processing platform, indicating potential features like card payment processing, asset management, custody services, and digital asset trading. Also, the company is considering the introduction of a utility token and digital wallet for its streaming service, Truth+, which could be used for subscription payments and other services within the Truth ecosystem.
In his second term as President of the United States, Donald Trump has changed his approach to cryptocurrency, now showing strong support for the industry at the federal level. A big part of this change happened in January 2025, when Trump signed Executive Order 14178, called ‘Strengthening American Leadership in Digital Financial Technology’. This order cancelled earlier crypto rules made under President Biden and officially banned the creation of a US central bank digital currency (CBDC), which Trump’s team saw as too much government control over personal finance.
In March 2025, Trump took things further by signing another order to create a National Crypto Reserve and a US Digital Asset Stockpile. This reserve will be filled with XRP, Solana, Cardano, Bitcoin, Ethereum and other digital assets that the government has taken in criminal or civil cases. He also named tech investor David Sacks as the White House adviser/leader for AI and crypto.
