Trump Media Denies $3B Crypto Plan Report

Trump Media & Technology Group has denied a Financial Times report alleging a $3 billion fundraising effort to purchase cryptocurrency, calling the sources and details “baseless”.

The denial comes amid speculation about the Trump family’s fintech ambitions, affecting market sentiment but no confirmed transactions have emerged.

Trump Media Dismisses $3B Crypto Investment Speculation

The Financial Times reported that Trump Media & Technology Group was planning a $3 billion cryptocurrency investment. TMTG has firmly denied these claims, labelling them and their sources as “baseless”.

Key figures mentioned in the report include Donald Trump and his sons, although no official comments have been made publicly by them. TMTG continues focusing on its fintech initiatives, Truth Social and Truth.Fi. TMTG categorically denies the $3B fundraising report for crypto buys, labeling the Financial Times’ claims and sources as baseless.

Market Unfazed by Trump Media’s Crypto Denial

The report has sparked interest but no significant market changes have been observed. Bitcoin and Ethereum remain potential targets for investment, though no transactions have been confirmed by official sources.

Politically, the matter has stirred concerns about cryptocurrency investments by public figures. Legislative considerations are ongoing regarding restrictions to mitigate conflicts of interest in such cases.

Analysts Contrast Trump Media to MicroStrategy Moves

Analysts compare this situation to firms like MicroStrategy, which publicly bought large Bitcoin holdings. TMTG’s denial differentiates it from these cases, as there’s no evidence of similar financial action.

Historically, large-scale crypto purchases have affected markets, but current data indicates no large investments from TMTG, aligning with their official denials of such plans for the time being.