Billionaire Invests $100 Million in Trump Media & Technology Group

Donald Trump's media group is entering the crypto market with significant investments. A Chicago trading firm, DRW Investments, has invested $100 million for 4 million shares in Trump Media & Technology Group (TMTG), shortly after a regulatory probe into the firm was closed.

Key Developments

TMTG plans to acquire over $2.5 billion in Bitcoin.
DRW Investments has been active in crypto for over a decade and views Bitcoin as a valuable corporate asset.
Jane Street has invested $375 million in TMTG, making it the largest backer.
The goal is to raise $2.5 billion, potentially allowing TMTG to hold over 140,000 BTC at current prices.
The SEC has approved TMTG’s registration statement for its Bitcoin Treasury offering, enabling it to sell 56 million new shares and 29 million convertible notes.
DRW advocates for updated regulatory frameworks from the SEC and CFTC to keep pace with global market changes.
DRW's crypto arm, Cumberland, previously acquired 70,000 BTC in a US government auction, now valued at approximately $7.7 billion.