Trump Media execs seek $179M via new SPAC to possibly buy crypto firm

Three current and former executives tied to Donald Trump’s media company are launching a blank check firm and could look to buy a US crypto business.

Three Trump Media & Technology Group executives are heading up a company that could look to buy a US-based crypto or blockchain firm, citing the Trump administration’s backing of the sector.

The trio is targeting a $179 million public and private offering through the Cayman Islands-based special-purpose acquisition company (SPAC), Renatus Tactical Acquisition Corp I, according to a March 14 regulatory filing first reported by Forbes.

Renatus Tactical’s CEO, Eric Swider, is a director at Trump Media and was the CEO at Digital World Acquisition Corp., a SPAC that merged with the firm, allowing it to go public. Renatus Tactical’s operating chief, Alexander Cano, was Digital World’s president, while Trump Media CEO and chair Devin Nunes also chairs Renatus Tactical.

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