**Title: Trump Media Denies Raising $3 Billion for Cryptocurrency Investments**

Trump Media and Technology Group, the company behind President Donald Trump's Truth Social platform, has categorically denied reports suggesting it plans to raise $3 billion through equity and convertible bonds for purchasing Bitcoin and other cryptocurrencies. This denial came after the Financial Times cited unnamed sources indicating such plans.

The Financial Times initially reported on May 26 that Trump Media intended to issue $2 billion in equity and an additional $1 billion in convertible bonds, which could later be converted into equity. According to the report, the equity was expected to be sold at market price as of May 23, when shares of Trump Media closed at $25.72, reflecting a 4.6% increase. At that time, the company's market capitalization was noted at $5.7 billion.

Trump Media responded to this report with a dismissive statement, criticizing the Financial Times for relying on what they termed as unreliable sources. Despite the immediate reaction from Trump Media, the company did not provide a comment when approached by Cointelegraph.

The Financial Times' report suggested that this fundraising strategy would align Trump Media with companies like Strategy, Metaplanet, and Semler Scientific, which have allocated a portion of their funds to Bitcoin. These companies view crypto investments as a hedge against inflation and a means to avoid becoming uncompetitive.

Trump Media's purported plan, if true, could subject the company and the Trump family's other crypto ventures to increased scrutiny. Democratic lawmakers have opposed bipartisan efforts relating to the Trump family's cryptocurrency dealings, including staging protests against a memecoin dinner hosted by Trump on May 22. Critics argue that Trump's involvement in cryptocurrency represents a conflict of interest, given his potential influence over the industry.

Adding to these concerns, Trump has reportedly transferred his 53% stake in Trump Media to a revocable trust managed by his son, Donald Trump Jr. This move has further fueled debates about the ethical implications of the Trump family's expanding presence in the cryptocurrency sector.