FILE PHOTO: Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -U.S. President Donald Trump's social media firm, Trump Media & Technology Group, plans to raise about $3 billion to spend on cryptocurrencies such as bitcoin, the Financial Times reported on Monday, citing people familiar with the matter.
Trump Media aims to raise $2 billion in fresh equity and $1 billion more through a convertible bond, the report said.
