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DRW Investments invests 100 million dollars betting on Trump Media Group: SEC withdraws lawsuit, getting closer to political dividends.
Just nine weeks after the SEC withdrew its investigation, DRW invested $100 million in the Trump family-controlled TMTG, assisting in $2.5 billion in bitcoin reserves. (Synopsis: Trump's latest earnings report: last year relied on WLFI to make $57.35 million, not only cryptocurrencies but also a lot of money) (Background added: CFTC acting chairman Caroline Pham pointed out: The Trump administration "also has to abide by the law" for crypto-friendly) Just nine weeks after the SEC unexpectedly withdrew its investigation into Chicago trader Don Wilson-related companies, his DRW Investments immediately dropped $100 million to buy Trump Media & controlled by the Trump family Technology Group (TMTG) has nearly 4 million shares. The money is seen as a key driver of TMTG's $2.5 billion Bitcoin reserve plan, and the market's imagination of a regulatory shift and a political-business relationship is heating up again. The SEC dropped its investigation into Don Wilson-owned crypto trader Cumberland in March for alleging unregistered sales of crypto assets. The Financial Times noted that less than three months after the lawsuit was withdrawn, DRW Portable invested $100 million in TMTG. According to TMTG's filings with regulators, the company plans to use a portion of this fund to buy bitcoin (BTC) directly, and cooperate with subsequent fundraising to jointly achieve a $2.5 billion holding target. On the day the deal closed, TMTG's shares closed up 8.4% on the NASDAQ, tripling one-day volume. The regulatory wind has turned to Trump Wilson several times publicly demanding that US financial regulation be reshaped, and has suggested "creating a new regulator" to replace the SEC and CFTC. During the later period of the Biden administration and Trump's administration, the SEC successively withdrew its lawsuits against Kraken, Coinbase, Consensys and other crypto companies. The investment community sees DRW's quick stake as a clue to watch the regulatory thermometer: the SEC has softened, and institutional wallets have opened. Trump's Bitcoin Ambitions TMTG's S-1 filings show that the company aims to accumulate $2.5 billion in bitcoin over two years. In addition to DRW's $100 million, trading giant Jane Street subscribed $375 million, and the rest of the funds will be completed through subsequent private placements and convertible bonds. The SEC has officially approved TMTG's Bitcoin Reserve registration. If all plans are implemented, TMTG will become a listed coin holder second only to MicroStrategy. Washington watchdog group CREW warned that the Trump family's direct stake in TMTG highly overlaps with the timing of government regulatory easing, which may raise questions about "policy for investment". DRW responded in a statement: "We have been deeply involved in crypto assets for more than a decade and have always believed in the value of holding Bitcoin on our balance sheet. This transaction is purely commercial." When the loosening of supervision and political capital overlap significantly, the advance layout of institutional entry is for the implicated dividend of "Trump crypto-friendly policy"? Discerning people understand. Related reports In the Trump era, officials are not guilty of speculating in coins! Bill "CLARITY Act" banned self-fertilization clause blocked by the White House Trump's latest earnings report: last year relied on WLFI to make $57.35 million, not only cryptocurrencies but also a lot of money "DRW Investments invested $100 million to bet on Trump Media Group: SEC close to political dividends after withdrawing the lawsuit" This article was first published in BlockTempo "Dynamic Trends - The Most Influential Blockchain News Media".