Trump Media executives are seeking $179 million via a SPAC to potentially buy a crypto firm.
From Cointelegraph
March 20, 2025 01:53:55 AM:
Three Trump Media & Technology Group executives are leading a company interested in buying a US-based crypto or blockchain firm, with backing from the Trump administration. Renatus Tactical Acquisition Corp I is aiming for a $179 million public and private offering through the Cayman Islands-based special-purpose acquisition company.
Renatus Tactical’s CEO, Eric Swider, along with other executives from Trump Media, are involved in this venture. The company is looking to acquire businesses in sectors like data security and technology for military and non-military applications, focusing primarily on high-potential US-based businesses.
Renatus Tactical plans to raise over $178.94 million through public shares and private placement warrants. The company mentioned that President Trump’s administration has shown interest in integrating digital assets into the national financial strategy, highlighting recent executive orders related to Bitcoin and crypto laws.
Despite the potential for growth, Renatus Tactical acknowledges that its Trump ties could deter some service providers. This situation mirrors Tesla’s challenges, with its CEO facing backlash for taking up a role in the White House. Trump’s majority stake in Trump Media, worth billions, is a significant factor in these ventures.
Read more at Cointelegraph: Trump Media execs seek $179M via new SPAC to possibly buy crypto firm