TMTG Receives SEC Approval for $2.3 Billion Bitcoin Treasury Deal

Trump Media and Technology Group (TMTG), the company behind former US President Donald Trump’s Truth Social platform, has received a significant regulatory approval. The US Securities and Exchange Commission (SEC) has declared effective TMTG’s S-3 registration statement, which is tied to its $2.3 billion Bitcoin treasury deal. This approval, announced on June 13, allows TMTG to proceed with its plans to integrate Bitcoin into its treasury operations, marking a pivotal moment for the company’s expansion into the fintech sector.

The S-3 registration statement, filed on June 6, includes the resale of approximately 56 million shares and 29 million more tied to convertible notes. These shares are part of debt and equity agreements with around 50 investors, which collectively yielded $2.3 billion. The registration statement also includes a universal shelf, providing TMTG with greater flexibility for future growth plans. However, the company currently has no immediate plans to issue any securities under this registration.

TMTG’s CEO and President Devin Nunes expressed the company’s aggressive expansion plans, stating, “We’re aggressively implementing our plans to expand the Company, our offerings, and our capabilities.” Nunes further elaborated on the company’s vision, saying, “By simultaneously enhancing and growing our social media platform, TV streaming platform, and our fintech brand while establishing a Bitcoin treasury, we aim to continue rapidly transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.”

This development comes just weeks after TMTG confirmed a $2.5 billion capital raise to purchase Bitcoin on May 27, following earlier denials of such a deal. At the time, Nunes highlighted the company’s view of Bitcoin as “an apex instrument of financial freedom,” emphasizing that TMTG would hold cryptocurrency as a crucial part of its assets. This strategic move aligns with the company’s broader goal of leveraging digital assets and blockchain technology to drive growth and innovation.

In addition to its Bitcoin treasury plans, TMTG has also filed with the SEC to launch a Bitcoin exchange-traded fund (ETF). The ETF aims to reflect the performance of the price of Bitcoin, providing investors with new opportunities in the digital asset space. This move is part of TMTG’s growth strategies and underscores its commitment to staying at the forefront of technological advancements in the fintech sector.

The effective registration of TMTG’s Bitcoin treasury deal by the SEC is a significant milestone for the company. It demonstrates TMTG’s dedication to innovation and its efforts to capitalize on the growing interest and adoption of cryptocurrencies. This development is expected to have a positive impact on the company’s future growth and its ability to attract investors interested in the digital asset space. As TMTG continues to expand its offerings and capabilities, it aims to become an indispensable player in the fintech industry, driven by its strategic integration of Bitcoin and other digital assets.