- Trump Media has filed for a SPAC in preparation to acquire crypto firms in the future.
- The US President’s media firm has shown several acquisitions activity over the past year.
The Asian crypto community woke up to the news of Bitcoin briefly testing $87K in the morning hours of March 20. However, following this, the cryptocurrency receded to the $85K level. Despite this fallback, the overall market reflects the price surge, which resulted from Trump requesting the Fed to cut interest rates.
Meanwhile, the US President’s Media company has made movements catching members’ attention. Trump Media has registered with the SEC for a SPAC firm in order to raise funding. Further, the firm has set a target of $179 million in funding to take over crypto companies.
According to a Forbes report, three senior officials from Trump Media have registered for the blank check company. They plan to utilize the funding to acquire a crypto firm in the near future. The SEC filing states the SPAC company as Renatus Tactical Acquisition Corp I which is filed in the Canary Islands.
Moreover, this firm has been eyeing acquisitions and mergers for several crypto and blockchain companies. Trump Media, over the past year, was seen as being part of several acquisitions.
The past year saw Donald Trump take a keen interest in the cryptocurrency sector. This led him to personally launch several projects including his multiple NFT collections and the World Liberty Financial project.
Additionally, his own media firm Trump Media has also endorsed crypto over the past year. In November 2024, the firm bought crypto trading platform Bakkt. This saw immense market attention at the time.
Following this, the firm also took measures to launch its very own crypto trading platform, TruthFi. Although there haven’t been any recent updates about the platform, Trump Media’s attempts to establish itself in the crypto realm are quite evident.
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