Trump’s billion-dollar crypto deal ahead of gala for top investors in his memecoin

By our Special Correspondent

U.S. President Donald Trump‘s social media firm, Trump Media & Technology Group, plans to raise about $3 billion to spend on crypto currencies such as bitcoin, the Financial Times reported on Monday, citing people familiar with the matter.

Trump Media aims to raise $2 billion in fresh equity and $1 billion more through a convertible bond, the report said. The terms, timing and size of the company’s capital raise could still change, the FT report said.