Trump's Administrators Took a $180 Million Step to Acquire a US Crypto Company! - Coin Bulletin

Executives linked to Donald Trump's media firm established a special purpose acquisition company (SPAC) to acquire a crypto and blockchain company based in America (USA).

Three executives from Trump Media & Technology Group established a special purpose acquisition company (SPAC) with the aim of acquiring a U.S.-based cryptocurrency or blockchain company. This move stands out as a parallel development to the Trump administration's shift in approach to cryptocurrency regulations.

Renatus Tactical Acquisition Corp I, a company established in the Cayman Islands and known as a blank check company, stated in its application to securities and exchange regulators that "the focus of our research will be on businesses operating in the high-potential cryptocurrency and blockchain, data security, and dual-use technologies markets in the United States."

The company emphasized that the current management has taken unprecedented steps to make digital assets a part of the national financial strategy. Additionally, Renatus's management team has close ties with Donald Trump's media firm. Eric Swider, a board member of Trump Media, serves as the CEO of Renatus, while Devin Nunes serves as the chairman of both Trump Media and Renatus. The former president of a company that merged with Trump Media, Alexander Cano, has been appointed as the vice president responsible for Renatus's operations.

The company also pointed to Trump's decision in March to create a Bitcoin strategic reserve. **"This decision, which was made to benefit the digital assets industry, envisions federal agencies holding Bitcoin and developing budget-neutral strategies to buy more, at no cost to taxpayers."

Renatus, Securities and Exchange Commission (SEC) is seeking to raise $178.9 million by selling 17.5 million shares. The company plans to complete the process through both public offerings and private placements to carry out a collaboration.