The move reflects President Donald Trump’s deepening embrace of cryptocurrency
Trump Media and Technology Group (TMTG) said Monday it holds nearly $2 billion in bitcoin and related assets, making up two-thirds of its liquid assets.
The move reflects President Donald Trump’s deepening embrace of cryptocurrency. TMTG shares rose 9% yesterday before settling at 4% by afternoon. Trump’s stake in the company is valued at nearly $2.3 billion.
TMTG plans to introduce a utility token for Truth Social and grow Truth.Fi, its fintech arm.
Critics warn of conflicts of interest, as Trump stands to benefit from the pro-crypto policies he promotes. He has vowed to make the US the global crypto hub.