All about Trump Jr.-linked firm raising $50M to expand into crypto
Main Idea
Thumzup Media, backed by Donald Trump Jr., has raised $50 million to expand into crypto mining, coinciding with Bitcoin's all-time high and President Trump's criticism of Fed Chair Jerome Powell.
Key Points
1. Thumzup Media Corporation, linked to Donald Trump Jr., secured $50 million to enter crypto mining, with Trump Jr. owning 350,000 shares in the company.
2. Bitcoin surged past $123,231 on August 13, setting a new all-time high, amid optimism from softer-than-expected inflation data.
3. President Trump has criticized Fed Chair Jerome Powell, calling him 'Too Late' and hinting at a potential successor when Powell's term ends in May.
4. Thumzup Media bought its first Bitcoin in January and now holds 19.1 BTC, part of its broader push into crypto-related ventures.
5. The political and economic climate, including potential Fed policy changes, is influencing the crypto market's performance.
Description
Thumzup Media to invest $50M into mining as Trump eyes Jerome Powell’s replacement.
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