Trump Media Secures SEC Approval for $2.3 Billion Bitcoin Investment

Trump Media, the parent company of Truth Social and controlled by former US President Donald Trump’s family, has secured approval from the SEC to invest $2.3 billion in Bitcoin. The firm’s Form S-3 registration statement filed on June 6 was a prerequisite for this move, which closed on May 30th. The investment capital came from the resale of approximately 56 million shares and an additional 29 million shares underlying convertible notes. These were sourced from over 50 investors in a deal considered one of the largest Bitcoin treasury deals by a publicly traded company.