Trump's promise to make US world's 'crypto capital' to be a reality soon? Check details

US President Donald Trump's media company is planning to raise $3 billion to spend on Bitcoin and other cryptocurrencies, 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. The Trump Media & Technology Group (TMTG) is behind the Truth Social app and controlled by the president’s terms, timing and size of the company's capital raise could still change, the FT report said. The move is the latest potential conflict of interest that has seen the President take up policies inside the White House that may beneficially benefit him and his family outside of it. Trump Media Group responded to a Reuters request for comment by calling both Reuters and the Financial Times fake news outlets. The White House did not immediately respond to a request for comment.