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Alarm raised over Trump admin corruption following Trump media move [View all]
Monday reporting from the Financial Times that U.S. President Donald Trump's family media company "plans to raise $3 billion to buy cryptocurrencies" sparked a fresh wave of alarm over his administration's policies and potential corruption.
After winning a second term last year, the Republican president transferred his stake in Trump Media & Technology Group (TMTG)—which is behind the Truth Social platform—to a revocable trust overseen by his son Donald Trump Jr.
Citing six unnamed sources, FT reported that TMTG "aims to raise $2 billion in fresh equity and another $1 billion via a convertible bond," and "also plans to launch an exchange-traded fund focused on cryptocurrency."
According to the newspaper:
TMTG said in a statement that "apparently the Financial Times has dumb writers listening to even dumber sources" but did not comment further. Representatives for Donald Trump Jr. did not respond to requests for comment. A White House spokesperson declined to comment.
After winning a second term last year, the Republican president transferred his stake in Trump Media & Technology Group (TMTG)—which is behind the Truth Social platform—to a revocable trust overseen by his son Donald Trump Jr.
Citing six unnamed sources, FT reported that TMTG "aims to raise $2 billion in fresh equity and another $1 billion via a convertible bond," and "also plans to launch an exchange-traded fund focused on cryptocurrency."
According to the newspaper:
TMTG said in a statement that "apparently the Financial Times has dumb writers listening to even dumber sources" but did not comment further. Representatives for Donald Trump Jr. did not respond to requests for comment. A White House spokesperson declined to comment.
https://www.alternet.org/trump-media-crypto/
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