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Trump Media and Technology Group, which owns the Truth Social Platform platform, said its $ 400 million repurchase program would not affect its Bitcoin box office plans.
In Monday’s announcement, media US President Donald Trump said Its board allowed to buy up to $ 400 million for ordinary shares. Redemption of shares does not have an impact on the company’s strategy to create bitcoins (BTC) Treasures using more than $ 2 billion in funds, she said.
Media group originally denied messages The fact that it planned to increase about $ 3 billion to invest in cryptocurrency, but later confirmed the financing of capital of $ 2.5 billion to buy bitcoins. According to Monday’s announcement, Bitcoin Strategy Trump Media “represented a private placement of an offer of approximately $ 2.3 billion in the aggregate”.
US Securities and Stock Exchange Commission (SEC), chaired by the nominated for Trump Paul Atkins, approved the registration statement For an agreement on the Bitcoins of the Media Society in June. The submission has shown that $ 2.3 billion for the investment of bitcoins came from another sales of 56 million shares and 29 million shares associated with convertible notes under debt and capital agreements.
Related: Trump Family’s Company reduces the share of World Liberty Financial by 20% – Report
Trump Media also has Applied to start Fund of Bitcoins trade on the stock exchange (ETF) which truth social independently File on the list and business shares of dual ETF bound to bitcoin and ether (Eth). Since January 2024, SEC approves ETF point bitcoins and since May 2024.
https://www.youtube.com/watch?v=VKC5QCRVDC0
Plans of national bitcoins under Trump
Trump he also suggestedThrough the March Executive Order to create a “strategic bitcoin reserve” and “digital assets”. Reserves would hold digital asset to the US government, but Trump advisors have suggested other ways extension of stock.
Legislators on a permanent sub -Senate Sub -Senate in an investigation defendant President of using his position in the government to “enrich a cryptocurrency company” by establishing supplies.
Trump Media announcement came on the same day that California Senator Adam Schiff Presented legislation aimed at exclusion US president, first family and other public officials, sponsoring or supporting digital assets. Trump Media, under the President’s namesake, could be contrary to the law with the proposed bitcoin strategy if it were to go through.
Magazine: Trump’s Crypto Ventures evoke a conflict of interest, trading questions
