Trump Media execs seek $179M via new SPAC to possibly buy crypto firm

Quick Summary:

Source: SECIn the filing, Renatus Tactical said US President Donald Trump’s administration “has taken unprecedented steps to integrate digital assets into the national financial strategy,” citing Trump’s early March executive order to create both a Bitcoin (BTC) reserve and a crypto stockpile and his January order tasking a working group to propose crypto laws.

Trump has a majority stake in Trump Media which runs the social media platform Truth Social. Forbes estimates that Trump is worth about $4.8 billion, while Bloomberg has put his wealth at over $6.5 billion, but both said his 114.75 million shares in Trump Media account for the bulk of his wealth, worth $2.36 billion at the company’s current closing price of $20.59.

Renatus Tactical’s CEO, Eric Swider, is a director at Trump Media and was the CEO at Digital World Acquisition Corp., a SPAC that merged with the firm, allowing it to go public.

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Article Details

Author / Journalist: Cointelegraph by Jesse Coghlan

Category: Crypto

Markets: United StatesCayman Islands

Topics: Trump Media Company Tactical Crypto Renatus Public Million Firm Trump’s Acquisition

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 05:53:55 (16 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 503 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27186488

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