Trump Jr. Buys Stake in Cash-Burning Social Media App Building Bitcoin Reserve

Key Points

1. Donald Trump Jr. purchased 350,000 shares in Thumzup Media Corp., valued at over $4 million, despite the company reporting only $151 in revenue last quarter.

2. Thumzup Media Corp. shifted its strategy in January to hold most of its liquid assets in Bitcoin, accumulating over $2 million worth, and plans to expand into six more cryptocurrencies.

3. The Trump family has shown increasing involvement in crypto, including advisory roles and investments in entities like Dominari Securities and Trump Media & Technology Group.

4. Donald Trump has transitioned from a crypto skeptic to an advocate, promoting policies to position the US as a global crypto leader, with his ventures reportedly generating nearly $1 billion in revenue.