Trump Media Execs To Raise $179M for Crypto and Defense Shopping Spree

Key Takeaways

• Three top Trump Media executives have formed a blank-check company to pursue acquisitions.
• The SPAC aims to raise $179 million to acquire or merge with a crypto or blockchain firm.
• An SEC filing reveals concerns that the firm’s affiliation with Trump could be a hurdle.

Three senior leaders from Donald Trump’s Media & Technology Group (TMTG) have launched a special-purpose acquisition company (SPAC) aimed at acquiring businesses in cryptocurrency, defense, and blockchain technology.

The newly formed SPAC, Renatus Tactical Acquisition Corp ., is incorporated in the Cayman Islands and is seeking to raise $179 million through an initial public offering and private placement.

Trump Media Executives Eyes Crypto and Defence Sector

The company is helmed by Eric Swider, who will serve as CEO, alongside Trump Media CEO Devin Nunes and former Trump Media Secretary Alexander Cano.

The trio played key roles in the high-profile merger between Trump Media and Digital World Acquisition Corp., a deal that made Trump’s media empire—including the Truth Social platform—public.

Renatus Tactical plans to use its capital to acquire businesses in sectors with significant government involvement, either as regulators or primary clients, with a particular focus on crypto, blockchain, and dual-use technologies.

A Trump-Linked Business—Advantage or Liability?

Trump’s return to the White House has set the stage for a potential shift in crypto regulations, with pro-crypto policies gaining traction under his administration.

The executives behind Renatus Tactical are looking to capitalize on this momentum, betting that Trump’s influence will open doors in the industry.

However, the company’s SEC filing acknowledges that its Trump ties could be a double-edged sword.

“Third parties may not want to engage with us to provide services due to the affiliation of our management team and our board of directors with TMTG and President Donald J. Trump,” the filing states.

Despite this, the company is moving forward with plans to sell 17.5 million shares at $10 each and 3,942,500 warrants at $1 apiece through a private placement, hoping to attract investors eager to tap into the fast-growing crypto and defense sectors.