DRW Investments, controlled by US financier Don Wilson, invested approximately 100 million dollars in Trump Media & Technology Group, owned by the Trump family. According to a report by the Financial Times, this investment was made to support the company's move to exceed 2 billion dollars in Bitcoin.
The investment is notable for taking place just nine weeks after the SEC's investigation into Wilson's crypto company Cumberland came to an end. The SEC had dropped the case in March that included claims of "unregistered crypto broker" against Cumberland.
According to investor records, Chicago-based DRW purchased approximately 4 million shares of TMTG last month. Thus, it made one of the largest investments in TMTG, which is also behind the Truth Social application. It was reported that the largest investor in the company's funding round for Bitcoin acquisition was Jane Street, with an approximately $375 million stake.
DRW stated that they evaluated the investment decision based on the "benefits of holding Bitcoin on company balance sheets." In the statement, it was said, "We have been strategically involved in the crypto assets ecosystem for decades. This transaction was also evaluated entirely from this perspective."
Don Wilson argued that the securities regulators in the U.S. need to be restructured, proposing the establishment of "a completely new regulatory authority" instead of the SEC and CFTC. A DRW spokesperson stated, "Wilson has long been calling for a clear regulatory framework."
Wilson's interest in crypto is not new. In 2015, he purchased 70,000 Bitcoins seized by the US government from Silk Road at an auction. The current value of these assets is approximately 7.7 billion dollars. DRW also has various funds related to digital assets, including transactions related to MicroStrategy's rebranded Bitcoin-focused structure "Strategy."
*This is not investment advice.
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There is a new development about Donald Trump's 2 Billion Dollar Bitcoin move!
DRW Investments, controlled by US financier Don Wilson, invested approximately 100 million dollars in Trump Media & Technology Group, owned by the Trump family. According to a report by the Financial Times, this investment was made to support the company's move to exceed 2 billion dollars in Bitcoin.
The investment is notable for taking place just nine weeks after the SEC's investigation into Wilson's crypto company Cumberland came to an end. The SEC had dropped the case in March that included claims of "unregistered crypto broker" against Cumberland.
According to investor records, Chicago-based DRW purchased approximately 4 million shares of TMTG last month. Thus, it made one of the largest investments in TMTG, which is also behind the Truth Social application. It was reported that the largest investor in the company's funding round for Bitcoin acquisition was Jane Street, with an approximately $375 million stake.
DRW stated that they evaluated the investment decision based on the "benefits of holding Bitcoin on company balance sheets." In the statement, it was said, "We have been strategically involved in the crypto assets ecosystem for decades. This transaction was also evaluated entirely from this perspective."
Don Wilson argued that the securities regulators in the U.S. need to be restructured, proposing the establishment of "a completely new regulatory authority" instead of the SEC and CFTC. A DRW spokesperson stated, "Wilson has long been calling for a clear regulatory framework."
Wilson's interest in crypto is not new. In 2015, he purchased 70,000 Bitcoins seized by the US government from Silk Road at an auction. The current value of these assets is approximately 7.7 billion dollars. DRW also has various funds related to digital assets, including transactions related to MicroStrategy's rebranded Bitcoin-focused structure "Strategy."
*This is not investment advice.
Follow our Telegram group, Twitter account and Youtube channel for exclusive news, analysis and on-chain data! Also, download our Android and IOS Apps and start live price tracking right away!