Billionaire Snaps Up $100 Million Of Trump Coin – Details
Summary
US President Donald Trump's media group is entering crypto finance, with a Chicago trading firm investing $100 million to buy 4 million shares in Trump Media & Technology Group (TMTG). This move follows the closure of a regulatory probe into the firm. TMTG plans to purchase over $2.5 billion worth of Bitcoin. DRW Investments, active in crypto for over a decade, views Bitcoin as a corporate asset. Jane Street holds a $375 million stake in TMTG, aiming to raise $2.5 billion to acquire Bitcoin. The SEC approved TMTG's Bitcoin Treasury offering, allowing it to sell shares and raise funds.
