Donald Trump’s company will spend $ 179 million to buy a cryptocurrency platform

Three executives of Trump Media & Technology Group plan to raise $ 179 million through a special investment company (SPAC) Renatus Tactical Acquisition Corp I, established in the Cayman Islands. The funds raised can be used to buy an American crypto or blockchain company. This is evidenced by data from the regulatory report cited by Forbes.

Renatus Tactical is headed by Trump Media CEO Eric Swider, who previously ran Digital World Acquisition Corp. the company that helped Trump Media go public. The management team also includes Alexander Kano, former president of Digital World, and Trump Media Chairman Devin Nunes.

Renatus Tactical does not officially disclose which companies it is considering for acquisition. The documents state that investments can be directed not only to the crypto sector but also to cybersecurity and dual-use technologies, both military and civilian.

The SPAC founders emphasize that their plans are backed by the policies of the Donald Trump administration, which has «taken unprecedented steps to integrate digital assets into the country’s financial strategy.» In particular, they mention the US President’s decree of March on the creation of a strategic bitcoin reserve and the development of draft laws to regulate cryptocurrencies.

However, the mere involvement with Trump could be a challenge for the deal. The company does not rule out that some partners or counterparties may refuse to cooperate because of their ties to the president. Such risks have already proved painful for other market players, including Tesla.

It is worth noting that Donald Trump owns a majority of shares in Trump Media, which operates the Truth Social social network. According to Forbes and Bloomberg, the bulk of his wealth — more than $ 2.3 billion — comes from these assets.