US President Donald Trump's media company on Tuesday said it plans to raise $2.5 billion to create a so-called Bitcoin treasury, furthering his embrace of the cryptocurrency sector.
Trump Media and Technology Group said it has entered into subscription deals with about 50 institutional investors.
Under this agreement, the institutional investors will put up about $1.5 billion in common stock and an additional $1 billion in convertible senior secured notes.
The company added that the offering would place Bitcoin as a key asset on its balance sheet, which totalled $759 million at the end of the first quarter of 2025.
Trump Media shares fell about 10 per cent after the announcement to $23.23 a share.
“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” said Trump Media chief executive Devin Nunes.
Trump Media runs Truth Social, the media platform on which the US President often posts.
Once a cryptocurrency sceptic, Mr Trump emerged as one of the sector's biggest backers during his 2024 presidential campaign with promises to establish a strategic Bitcoin reserve and to take a friendlier approach towards crypto than his predecessor.
Mr Trump last week also hosted a black-tie gala at his golf club in northern Virginia for 220 of the top investors of the $Trump meme coin. The event drew conflict-of-interest concerns that the president was mixing his business and political interests.
Among last week's guests was Justin Sun, a crypto billionaire who came first in the so-called competition to win a seat at the gala. Mr Sun is a backer of World Liberty Financial, the crypto company run by Zach Witkoff. He is the son of Steve Witkoff, Mr Trump's special envoy to the Middle East.
Under former president Joe Biden's administration, the Securities and Exchange Commission sued Mr Sun in 2023 over allegations of market manipulation and offering unregistered securities. However, the Trump-led SEC announced in February it would pause the lawsuit for 60 days to seek a resolution.
That month, the SEC announced it had also paused litigation against Binance and dropped its lawsuit against Coinbase.
Separately, the Senate last week advanced a major cryptocurrency bill that would establish the first regulatory framework for stablecoins. The bill, known as the GENIUS Act, is expected to go through a prolonged amendment process.
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Total eligible population
About 57.5 million people
51.1 million received a jab
6.4 million have not
Where are the unvaccinated?
England 11%
Scotland 9%
Wales 10%
Northern Ireland 14%
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Honeymoonish
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
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- Project manager: Dh55,000 to Dh65,000
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- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
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Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
