Executives of Trump Media & Technology Group have established a new company, planning to raise at least $179 million to acquire cryptocurrency-related businesses
ChainCatcher news, Forbes reports that three executives from Trump Media Technology Group (TMTG) have formed a new special purpose acquisition company (SPAC) aiming to raise at least $179 million to acquire businesses in the cryptocurrency, blockchain, or related industries.The 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 previously served as the president of the company that merged with Trump Media.According to filings with the U.S. Securities and Exchange Commission (SEC), Renatus Tactical will focus on cryptocurrency and blockchain, data security, and dual-use technologies. The company noted in its filings: "The current administration has taken unprecedented steps to incorporate digital assets into the national financial strategy."