Donald Trump’s media group is set to raise $3 billion to invest in cryptocurrencies, a move that could mark a new frontier for the president’s business ventures.
The funding will be used to support various cryptocurrency-related initiatives, including trading and investment activities. The exact details of the plan are not yet publicly available, but sources close to the deal suggest it could include partnerships with major cryptocurrency exchanges and wallet providers.
Trump’s decision to invest in cryptocurrencies comes as he faces growing scrutiny over his business dealings and potential conflicts of interest. Critics have raised concerns that his involvement in the sector could be used to further enrich himself or exert undue influence over US policy.
Despite these concerns, Trump’s media group has been exploring opportunities in cryptocurrency for some time. The company has already established partnerships with several major players in the industry.
The $3 billion funding round is expected to bring significant investment into the sector, potentially leading to new job creation and economic growth. However, it also raises questions about the potential risks and challenges associated with investing in cryptocurrencies.
As Trump’s second term begins, investors will be watching closely to see how this move plays out.
Source: https://www.ft.com/content/cc55d091-0b28-40bb-a11c-e32d4e121ca3