Another Trump Family-Tied Company Joins Bitcoin (BTC) Treasury Race with $50M Raise
Main Idea
Thumzup Media Corporation is expanding its Digital Asset Treasury (DAT) following a $50 million capital raise, while Donald Trump Jr. disclosed ownership of shares in the company and other cryptocurrency holdings.
Key Points
1. Thumzup Media Corporation, listed on NASDAQ (TZUP), announced the expansion of its Digital Asset Treasury (DAT) after raising $50 million in capital.
2. Robert Steele, CEO of Thumzup, described the move as a transformative step for the company in high-growth areas of the digital economy.
3. Donald Trump Jr. disclosed ownership of 350,000 shares in Thumzup, valued at around $3.3 million.
4. Thumzup currently holds 19.11 BTC, valued at approximately $2.33 million, and Trump Media & Technology Group holds 15,000 BTC, worth around $1.83 billion.
5. The Trump family has ties to World Liberty Financial, a DeFi firm co-founded in 2024, which launched a token (WLFI) and stablecoin (USD1) with a market capitalization of over $2.1 billion.
Description
A new entrant in the treasury race has emerged, closely tied to the crypto-friendly family of the US President. Already deeply entrenched via multiple entities and corporations, this latest endeavour is in its early stages. Dual Approach The publicly traded Thumzup Media Corporation, an advertising and social media company listed on the NASDAQ (TZUP), which recently adopted the treasury strategy, announced that it will expand its Digital Asset Treasury (DAT) for mining and blockchain investments...
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