US SEC, Trump Media Bitcoin reserve for $2.3 billion private placement approval

The Trump Family Expanding In Cryptocurrency Business (Source: NBC News)

The U.S. Securities and Exchange Commission (SEC) has officially approved a large-scale fundraising plan by Truth Social, a social media company operated by President Donald Trump, for Bitcoin (BTC) reserves.

On the 13th (local time), Trump Media announced in a press release that the private issuance application document (S-3) related to the $2.3 billion Bitcoin reserve submitted to the SEC was officially approved and took effect. Prior to this, Trump Media had signed agreements for private convertible bonds with about 50 institutional investors.

This approval suggests that Trump Media has embarked on a full-fledged cryptocurrency asset strategy, marking the largest private issuance for Bitcoin reserve purposes among listed companies.

The industry views this decision as a symbolic signal to both politics and Wall Street, and is paying attention to the impact it will have on the flow of BTC incorporation by listed companies in the future.