- Trump Media denies $3 billion crypto purchase, impacts market reactions.
- Firm continues existing crypto initiatives, no large-scale acquisition.
- No confirmed impact on Bitcoin, Ethereum, or other cryptocurrencies.
Trump Media & Technology Group, led by former President Donald Trump, categorically denied reports on May 27, 2025, of plans to raise $3 billion for cryptocurrency investments.
Although the rumors suggested a $3 billion capital raise, TMTG’s denial leaves no impact on the crypto market or Bitcoin price.
Trump Media Denies $3 Billion Crypto Investment Plans
Trump Media & Technology Group emphatically denied reports claiming it intended to raise $3 billion to purchase Bitcoin and other cryptocurrencies. The report originally surfaced from the Financial Times, which cited unnamed sources. TMTG dismissed the article as unfounded, referring to the sources as unreliable. A spokesperson from TMTG stated, “Clearly, the Financial Times reporter is dumb and believed even dumber sources.”
The company’s response to these claims reaffirms their current focus on smaller digital asset projects, including the launch of Truth.Fi and partnerships with Crypto.com. No significant investment shifts in Bitcoin or alternative digital assets have been announced.
The Financial Times’ report sparked immediate reactions across the crypto industry, though TMTG’s categorical denial has mitigated potential volatility. No confirmation from Trump Media suggests any imminent acquisition strategy, allowing market sentiments to stabilize following initial speculation.
Cryptocurrency Market Unmoved Amidst Denial and Speculations
Did you know? This incident echoes past speculation-driven market shifts, illustrating the impact of rumors on cryptocurrency, reminiscent of MicroStrategy’s Bitcoin strategy announcements.
Bitcoin (BTC), previously impacted by similar speculative events, remained stable with a market cap of $2.17 trillion and a 24-hour trading volume of $45.74 billion. BTC’s price increased by 0.42% over 24 hours, showing minimal impact from the unfounded TMTG claims.
According to Coincu analysts, TMTG’s denial underscores the importance of vetting sources in financial reporting. Rumor-driven activities can amplify volatility, although no substantial on-chain activities support the Financial Times’ initial article. Prudence in market reactions remains critical for stakeholders.
Source: https://coincu.com/339944-trump-media-crypto-denial/