Is Donald Trump secretly plotting a massive move into the cryptocurrency world? Recent rumors suggest a big plan is brewing.
A $3 Billion Bitcoin Bet?
According to the Financial Times, Trump Media & Technology Group (TMTG), the company behind Truth Social, is reportedly aiming to raise nearly $3 billion to invest in crypto, mostly Bitcoin. The plan allegedly involves $1 billion from convertible bonds and another $2 billion in equity.
Trump’s Team Calls it Fake News
TMTG immediately slammed the reports as fake news, targeting outlets like the Financial Times and Reuters. Interestingly, the White House has remained silent on the matter. Meanwhile, TMTG is also exploring other fintech ventures through acquisitions and funding. They recently signed a deal to launch a new line of retail financial products, including ETFs. This all seems to fit with Trump’s “America First” agenda.
An Exclusive Dinner and a Crypto Controversy
Adding fuel to the fire, Trump recently hosted a dinner at his golf club for around 220 major investors in $TRUMP, a meme coin that emerged before he became president. This sparked outrage and protests, with slogans like “No Kings” and “Stop Crypto Corruption.” Senator Elizabeth Warren even called the event a “corruption orgy.” The core issue is a potential conflict of interest between Trump’s personal investments and his public role.
The Trump Family and Crypto
The Trump family’s ties to crypto are well-known. Eric Trump and Donald Trump Jr. are involved in a new mining project with Hut 8 called American Bitcoin. Family members are also active in the crypto scene, with appearances at events featuring speakers like JD Vance.
Currently, the $TRUMP meme coin is down 19%, trading at $12.71 after the dinner hype died down. In contrast, Bitcoin is up 15% in the last month, exceeding $109,400.
A Risky Bet?
TMTG’s reported $3 billion crypto venture positions Trump as a major player in the crypto market. However, the move is raising serious questions about conflicts of interest and potential corruption. While the crypto market rewards bold moves, Trump’s gamble this time seems significantly riskier than simple trading.
