Trump Media Executives Lead $179M SPAC Targeting U.S. Crypto Acquisition
Executives from Trump Media & Technology Group are leading a $179 million special-purpose acquisition company (SPAC) that may seek to acquire a U.S.-based crypto or blockchain firm.
The initiative aligns with what they describe as the Trump administration’s push to integrate digital assets into national financial strategy.
According to a March 14 regulatory filing, the Cayman Islands-based SPAC, named Renatus Tactical Acquisition Corp I, aims to raise capital through a combination of public and private offerings.
Trump Media-Linked Executives Lead Renatus Tactical SPAC
Renatus Tactical is led by figures closely tied to Trump Media.
Its CEO, Eric Swider, is a director at Trump Media and previously served as CEO of Digital World Acquisition Corp., the SPAC that enabled Trump Media to go public.
The company’s operating chief, Alexander Cano, was formerly the president of Digital World, while Trump Media’s CEO and chair, Devin Nunes, also serves as the chair of Renatus Tactical.
While Renatus Tactical has not specified exact acquisition targets, its filing suggests an interest in companies within the crypto, blockchain, data security, and dual-use technology sectors.
The firm stated that its primary focus is on high-growth businesses based in the United States, though it remains open to opportunities globally.
The filing highlighted the Trump administration’s recent moves to incorporate digital assets into federal policy.
It cited Trump’s March executive order, which proposed establishing both a Bitcoin reserve and a crypto stockpile, as well as his January directive to form a working group tasked with developing cryptocurrency regulations.
Despite the apparent regulatory support, Renatus Tactical acknowledged potential business challenges tied to its leadership’s association with Trump.
The filing noted that some firms may be hesitant to engage with the SPAC due to its connection to the former president and Trump Media.
Trump Remains Financially Tied to Media Company Leading SPAC Effort
Trump’s majority stake in Trump Media continues to be a key component of his wealth, largely through its ownership of the social media platform Truth Social.
According to financial estimates, his net worth is valued at $4.8 billion by Forbes, while Bloomberg places it at over $6.5 billion.
A significant portion of this—$2.36 billion—is derived from his 114.75 million shares in Trump Media, currently valued at $20.59 per share.
To address potential conflicts of interest before his inauguration, Trump transferred these shares into a trust in December 2024.
Last week, World Liberty Financial (WLFI), a decentralized finance (DeFi) project linked to former Trump and his sons, successfully completed its token sale, raising an impressive $550 million.