The US Securities and Exchange Commission (SEC) Greenlight has submitted the registration statement by Trump Media and Technology Group for its $ 2.3 billion Bitcoin (BTC) Treasury deal on 13 June, according to a SEC entering. Trump Media, the company behind Truth Social, is a public company that The family of US President Donald Trump is considerably checking.
The SEC “declared effectively” the S-3 registration statement of Trump Media, which was submitted on 6 June. Companies submit form S-3 to register the sale of securities at the SEC. After the approval of the SEC, Trump Media submitted a corresponding prospectus to the agency on Friday.
According to the submission, Trump Media collected $ 2.3 billion from around 50 investors due to the resale of approximately 56 million shares of shares and 29 million shares that underlying convertible banknotes. Trump Media praised the deal, which was closed on 30 May, as “one of the largest Bitcoin Treasury deals for a public company.”
A Bitcoin Treasury is part of Trump Media’s aggressive expansion strategy
In a press release, Trump Media CEO and President Devin Nunes stated that the company expands “aggressively” with the aim of transforming Trump Media into an indispensable company for the growing customer base of the Patriot Economy. “
The establishment of a Bitcoin Treasury will place BTC in the balance sheet of Trump Media, in addition to cash and casequasents, making it exposure to BTC to the shareholders. Crypto.com and Anchorage Digital will handle custody of the Bitcoin Treasury holdings of Trump.
Nunes announced the deal on 27 May and noted that a Bitcoin Treasury will enable the company to defend itself ‘against intimidation and discrimination by financial institutions’. He added that it will also create ‘synergies for subscription payments, a utility firing and other planned transactions in Truth Social and Truth+’, a streaming platform.
The Bitcoin Treasury is just one of the avenues that Trump Media uses to strengthen its place in the Bitcoin market. On June 5, the company submitted to the SEC to launch a Bitcoin Exchange-Traded Fund (ETF): Truth Social Bitcoin ETF. Crypto.com will be the exclusive custodian for all BTC of the ETF, which reflect the price performance of BTC.
Don Wilson invested $ 100 million in the Bitcoin Treasury deal from Trump Media
According to a report from The Financial Times (FT), Don Wilson, founder and CEO of DRW Investments, one of the world’s largest trading agencies, $ 100 million donated in the Bitcoin Treasury fundraising round of Trump Media.
According to the report, according to a SEC application, DRW Investments bought more than 3.8 million shares in Trump Media. This makes DRW among the greatest investors in Trump Media’s bet on a Bitcoin Treasury.
The investment calls for concern about conflicts of interest with the current American administration, because Cumberland, a crypto -liquidity provider, has clearly benefited from the second Trump administration. In March, the SEC dropped a lawsuit that was initiated under the leadership of former SEC chairman Gary Genler against Cumberland, who claimed that it operated as a non -registered securities trader by selling crypto assets.