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Trump Media and Technology Group (TMTG), the company that owns the social truth platform of US President Donald Trump, is partly owned by the President, obtained approval from the US Securities and Stock Exchange Committee (SEC) to show its registration for the treasury of $ 2.3 billion.
According to To the June 13 profile of a second, the “S-3” agency was presented by S-3 on June 6-Bitcoin (BTC). S-3 is a model that American companies use to record the sale of different securities, such as stocks, options and different types of debt. TMTG presented a final bulletin opposite with the Supreme Education Council on the same day.
Trump Media CEO says the company is “strongly” expanding
The SEC file, as part of the Bitcoin Treasury Plan, said TMTG recorded a reselling of about 56 million shares and 29 million more related to transferred observations as part of debt and shares agreements with about 50 investors, resulting in $ 2.3 billion.
Although the registration statement includes a global shelf to give TMTG a “greater flexibility” for future growth plans, the company currently has “immediate plans” to issue any securities accordingly.
“We are implementing our plans strongly to expand the company, our offers, and our capabilities,” said Trump Media and President Divin Nunes. Nunes added:
“By strengthening and developing our social media platform, television broadcasting platform, and our Fintech brand with the creation of the Bitcoin wardrobe, we aim to continue to quickly convert the media to the media to an indispensable company for the dilated customer base in the national economy.”
On the same day, the TMTG share price decreased by 2.06 %, with the trading day closed at $ 19.52, According to To Google Finance Data.
This comes just weeks after the company confirmed the $ 2.5 billion in capital to buy Bitcoin on May 27 after rejecting previous reports on the deal.
At that time, Nunenis said that TMTG is looking at “Bitcoin as a summit of financial freedom, and now the media will hold Trump a coded currency as a decisive part of our assets.”
TMTG recently introduced to launch a group of Bitcoin Etf
“Donald Trump, Trump Media, you will buy $ 2.5 billion from Bitcoin. Will Trump are about to go to Silor’s position?” Said Blockchain Arkham Analysis said on A x.
Related to: Bitcoin’s adoption by “Deglobalization”, “Trump’s Great Bill”.
Meanwhile, on June 5, TMTG was submitted with the Securities and Stock Exchange Committee to launch the Stock Exchange Trading Fund (ETF).
“The origins of confidence consist in the first place of bitcoin that one of the guardians maintains on behalf of the fund. The fund is generally seeking to reflect the performance of the bitcoin price,” TMTG said in the presentation of June 5.
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