Oh joy! Three execs from Trump Media & Technology Group are on a mission to possibly buy a crypto firm. Why? Well, apparently the Trump administration was really into this blockchain stuff. 🤷♂️
This dynamic trio is aiming to raise a whopping $179 million through a SPAC named Renatus Tactical Acquisition Corp I, based in the Cayman Islands. Because why not? 🏝️
Renatus Tactical’s CEO, Eric Swider, is a familiar face at Trump Media and was the CEO at Digital World Acquisition Corp., another SPAC that helped Trump Media go public. Alexander Cano, the operating chief, was Digital World’s president, and Devin Nunes, Trump Media’s CEO and chair, also chairs Renatus Tactical. It’s like a SPAC family reunion! 🎉
What are they planning to buy? Who knows! They said it could be “one or more businesses” and maybe something in data security and tech for military and non-military stuff. 🤔
They’re looking everywhere but mainly want to focus on “high-potential businesses” in the US. Because America first, am I right? 🇺🇸
In their filing, they mentioned how the Trump administration “took unprecedented steps to integrate digital assets into the national financial strategy.” Like creating a Bitcoin reserve and a crypto stockpile. Who knew Trump was such a crypto enthusiast? ₿
But wait, there’s a catch! Their Trump ties might be a problem because some people “may not want to engage with us.” Shocking, I know! 😱
This Trump affiliation issue is familiar to Tesla, whose share price has tanked over 40% this year. Thanks, Elon Musk, for being the White House cost-cutting czar! 🚗💥
Trump has a majority stake in Trump Media, which runs Truth Social. Because why have one social media platform when you can have your own? 🙄
Forbes says Trump is worth about $4.8 billion, while Bloomberg says over $6.5 billion. Most of his wealth comes from his 114.75 million shares in Trump Media, worth $2.36 billion. That’s a lot of zeros! 💰
Trump put the shares into a trust in December to avoid a conflict of interest. How thoughtful! 🙏
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2025-03-20 09:07