Trump’s multimedia company plans to raise $ 3 billion to buy cryptocurrencies such as Bitcoin, as the US president’s government and his family have become a staunch supporters of digital assets.

According to the Financial Times, the Trump Media & Technology (TMTG) group, which is behind the Truth Social application and is controlled by the president’s family, aims to raise $ 2 billion in new equity and another $ 1 billion through a convertible bond.

In addition, in order to raise the amount, the terms, timetable and the size of the increase in TMTG could still be changed.

The group’s capital raising is likely to be announced before a big meeting of investors and supporters of cryptocurrencies in Las Vegas this week, where Vice President JD Vance, Trump’s sons, Donald Junior and Eric, and Eric, are expected to speak.

TMTG said in a statement that “apparently the Financial Times has stupid writers who hear even more stupid sources” but did not comment further.

Donald Trump Junior’s representatives did not respond to commentary requests. A White House spokesman refused to comment.

The planned investment of $ 3 billion in Crypto is the last example of the Trump family’s shift to cryptocurrencies, which has triggered concerns about conflicts of interest.

The tycoon, a Republican president, has vowed to make the US the “cryptographic capital of the world” and he has launched his own cryptocurrency- “mimide” as his critics call it.