Trump Media to raise $2.5B for Bitcoin treasury through private offering

Trump Media & Technology Group has entered agreements with around 50 institutional investors to raise $2.5 billion—$1.5 billion through common stock and $1 billion via convertible notes, according to GlobeNewswire. The funds will be used to establish a Bitcoin treasury, making it one of the largest Bitcoin holdings by a public company. The offering is expected to close by May 29. Crypto.com Exchange and Anchorage Digital will provide custody.