Trump Media Approved for Bitcoin Treasury Deal by SEC

Trump Media and Technology Group has achieved a significant regulatory milestone with the approval of its Bitcoin treasury deal by the U.S. Securities and Exchange Commission. The SEC declared the company’s Form S-3 registration effective on June 13, 2025, marking a pivotal moment in Trump Media’s capital strategy. This approval allows for the resale of approximately 56 million equity shares and 29 million shares linked to convertible notes, providing liquidity for early investors while maintaining the integrity of the Bitcoin treasury.

Trump Media, which trades under the ticker DJT on Nasdaq and NYSE Texas, raised $2.3 billion from previous debt and equity funding rounds involving around fifty investors. This capital will fuel the company’s expansion plans across its various platforms, including Truth Social, Truth+ streaming, and Truth.Fi fintech operations. The regulatory nod also enables market participants to trade previously restricted shares through standard exchange channels, enhancing liquidity for early investors.

This development positions Trump Media among the largest corporate holders of Bitcoin, aligning with a growing trend of public companies allocating treasury assets to cryptocurrencies. Major players like MicroStrategy and Tesla have already adopted this strategy, and Trump Media’s move further solidifies the trend. The company aims to preserve capital and achieve growth through long-term crypto exposure, suggesting that Bitcoin will be increasingly accepted as a treasury reserve. This shift is likely to influence investor opinions, moving corporate crypto adoption closer to conventional financial markets.

On the regulatory front, SEC Chair Paul Atkins confirmed ongoing crypto reforms during a Senate budget hearing on June 3, 2025. The SEC has dropped several crypto enforcement cases recently, aiming to clarify regulatory boundaries for stablecoins and meme tokens. A newly formed crypto task force is leading industry consultations and will issue a report with proposed regulatory frameworks in the coming months. Additionally, discussions are underway regarding the potential merger of the PCAOB with the SEC, which could redirect a surplus toward staffing needs.

This regulatory approval and the broader reforms indicate a shift towards providing more clarity and stability for companies integrating cryptocurrencies into their operations. The SEC’s actions suggest a balanced approach, fostering innovation while ensuring appropriate regulatory safeguards. This environment is expected to encourage more corporations to explore similar strategies, further integrating cryptocurrencies into mainstream finance and potentially attracting more institutional investors.