Trump Media & Technology Group, the Trump family-controlled company behind Truth Social, has rubbished a report by the Financial Times that the firm is planning to raise $3 billion through a combination of equity and convertible bonds to purchase crypto assets such as Bitcoin.

“Apparently the Financial Times has dumb writers listening to even dumber sources,” Trump Media & Technology said in response to the report.

The FT report aligns with Trump Media & Technology’s previously announced ambitions to expand into digital assets, including plans to launch a financial services platform focused on crypto and exchange-traded funds, and form a partnership with Crypto.com.

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Those plans included investing up to $250 million in digital assets through the firm’s Truth.Fi platform.

Last week, House Democrats, led by Rep. Maxine Waters, introduced the Stop TRUMP in Crypto Act of 2025 to prohibit the president, vice president, members of Congress, and their immediate families from owning, trading or issuing digital assets while in office.