Trump Media & Technology Group Executive Forms New Company, Plans to Raise at Least $179 Million for Acquiring Crypto-Related Businesses

Blockbeats

03-20

BlockBeats News, March 20th, according to Forbes, three executives from Trump Media Technology Group (TMTG) have established a new Special Purpose Acquisition Company (SPAC), planning to raise at least $179 million to acquire companies in the cryptocurrency, blockchain, or related industries.

This company, named Renatus Tactical Acquisition Corp I, is registered in the Cayman Islands, and its leadership has close ties to Trump Media: CEO Eric Swider is a board member of Trump Media; Chairman Devin Nunes also serves as the CEO of Trump Media; COO Alexander Cano has previously served as the president of a company that merged with Trump Media.

According to documents filed with the U.S. Securities and Exchange Commission (SEC), Renatus Tactical will focus on cryptocurrency and blockchain, data security, and dual-use military-civilian technology. The company stated in the filings: "The current administration has taken unprecedented steps to incorporate digital assets into the national financial strategy."

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