In a move that can only be described as “swampy AF,” a Chicago trading firm has dropped a cool $100 million on 4 million shares in Trump Media & Technology Group (TMTG). This comes just nine weeks after US regulators decided to close a probe into the same firm. Coincidence? I think not.
Based on reports, this deal is tied to TMTG’s plan to buy over $2.5 billion worth of Bitcoin. Because, you know, nothing says “legitimate investment” like throwing money at a cryptocurrency backed by a former reality TV star turned president.
Big Bet On Trump Coin
According to the filing, DRW Investments treats Bitcoin like any other corporate asset. The company, founded and controlled by trading mogul Don Wilson, said it has been active in crypto for more than a decade. They see value in holding Bitcoin on their balance sheets, and buying into TMTG was, in their view, a straightforward way to back that idea.
News update from the swamp:
“An American financier invested $100 million in the Trump family’s flagship bitcoin project just nine weeks after a probe into his crypto business was dropped by the Trump administration.”
— Jake M. Grumbach (@JakeMGrumbach) June 14, 2025
Institutional Backers Rally
Jane Street leads the pack with a $375 million stake in the Trump Group, making it the largest backer so far. Other investors are also lining up, presumably with dollar signs in their eyes and a sense of impending doom in their hearts.
Based on reports, TMTG’s goal is to raise $2.5 billion and use much of that cash to buy Bitcoin. If all goes to plan, the firm could hold over 140,000 BTC at current prices. Just imagine the possibilities: a world where the Trump family controls a significant portion of the cryptocurrency market. 🤯
Regulatory Milestone Achieved
On Friday, June 13, the SEC declared TMTG’s registration statement for its Bitcoin Treasury offering effective. That covers 56 million new shares of equity and 29 million in convertible notes. Clearing this step means the company can sell shares and raise the cash it needs. It also subjects TMTG to ongoing SEC reporting and oversight, which is sure to be a barrel of laughs.
Meanwhile, a DRW spokesperson called for a fresh look at the SEC and CFTC. The firm argued that the current regulators don’t match the pace of global market changes. Well, duh. When you’re dealing with a former reality TV star turned president turned cryptocurrency kingpin, you can’t exactly expect things to move at a snail’s pace.
Over the years, DRW’s crypto arm, Cumberland, bought 70,000 BTC in a US government auction of Silk Road assets. That stash is worth about $7.7 billion today. So, you know, they’ve got some experience in this whole “throwing money at cryptocurrency” thing.
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2025-06-14 13:20