{"id":125445,"date":"2025-03-20T06:17:29","date_gmt":"2025-03-20T06:17:29","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125445"},"modified":"2025-03-20T06:17:29","modified_gmt":"2025-03-20T06:17:29","slug":"trump-media-execs-seek-179m-via-new-spac-to-possibly-buy-crypto-firm","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125445","title":{"rendered":"Trump Media execs seek $179M via new SPAC to possibly buy crypto firm"},"content":{"rendered":"

Source: Cointelegraph.com NewsThree Trump Media & Technology Group executives are heading up a company that could look to buy a US-based crypto or blockchain firm, citing the Trump administration\u2019s backing of the sector.
\nThe trio is targeting a $179 million public and private offering through the Cayman Islands-based special-purpose acquisition company (SPAC), Renatus Tactical Acquisition Corp I, according to a March 14 regulatory filing first reported by Forbes.
\nRenatus Tactical\u2019s CEO, Eric Swider, is a director at Trump Media and was the CEO at Digital World Acquisition Corp., a SPAC that merged with the firm, allowing it to go public. Renatus Tactical\u2019s operating chief, Alexander Cano, was Digital World\u2019s president, while Trump Media CEO and chair Devin Nunes also chairs Renatus Tactical.
\nRenatus Tactical wasn\u2019t specific about what it was looking to buy. It said it could acquire \u201cone or more businesses\u201d and is also looking to invest in data security and technology used for both military and non-military applications.
\nIt said it could pursue a business in any of the industries anywhere in the world but intends to focus its search \u201con high-potential businesses based in the United States.\u201d
\nRenatus Tactical aims to raise over $178.94 million through 17.5 million public shares at $10 each and over 3.94 million private placement warrants at $1 each. Source: SECIn the filing, Renatus Tactical said US President Donald Trump\u2019s administration \u201chas taken unprecedented steps to integrate digital assets into the national financial strategy,\u201d citing Trump\u2019s early March executive order to create both a Bitcoin (BTC) reserve and a crypto stockpile and his January order tasking a working group to propose crypto laws.
\nRelated: Kraken nears $1.5B deal allowing it to offer US crypto futures: Report\u00a0
\nHowever, the company said that its Trump ties could be a problem, as some \u201cmay not want to engage with us to provide services due to the affiliation of our management team and our board of directors\u201d with Trump and Trump Media.
\nThat\u2019s been an issue for car maker Tesla, which has seen its share price tank over 40% this year due in part to its CEO Elon Musk taking up a role as White House cost-cutting czar, which has sparked attacks that have burned Tesla cars and vandalized dealerships across the US.
\nTrump has a majority stake in Trump Media which runs the social media platform Truth Social.\u00a0
\nForbes estimates that Trump is worth about $4.8 billion, while Bloomberg has put his wealth at over $6.5 billion, but both said his 114.75 million shares in Trump Media account for the bulk of his wealth, worth $2.36 billion at the company\u2019s current closing price of $20.59.
\nTrump put the shares into a trust in December in an effort to dampen a conflict of interest ahead of his inauguration.
\nMagazine: Trump\u2019s crypto ventures raise conflict of interest, insider trading questions\u00a0Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsThree Trump Media & Technology Group executives are heading up a company that could look to buy a US-based crypto or blockchain firm, citing the Trump administration\u2019s backing… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125445"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125445"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125445\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125445"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}