Trump's media ventures into the encryption and defense industries! Established a SPAC to raise $179 million.

Trump media executives set up a new SPAC “Renatus Tactical” to enter the crypto and defense industry, but Trump’s background may bring market and regulatory risks. (Synopsis: Trump will make public the major progress of bitcoin reserves tomorrow by speaking at the cryptocurrency conference? (Background supplement: Hyperliquid 50 times the real body of the whale doubtful cloud" X account renamed MELANIA really has Trump insider? According to Forbes, three senior executives at Trump Media & Technology Group (TMTG) have formed a new special purpose acquisition company (SPAC) that plans to raise $179 million to target cryptocurrency, blockchain, data security and defense technology related industries. The move comes at a time of change in the regulatory environment in the United States, and the market is watching the development of the plan. SPAC Executive Background: Close Relationship with Trump Media The newly formed SPAC, Renatus Tactical Acquisition Corp I, is registered in the Cayman Islands and plans to raise funds through initial public offerings (IPOs) and private placements, targeting high-growth areas with government involvement. The company’s management comes from Trump Media executives: CEO Eric Swider, a member of the Trump Media Board of Directors, who led the business that merged with the company. Chairman of the Board Devin Nunes – CEO, President and Chairman of Trump Media and former member of the U.S. Congress. Chief Operating Officer Alexander Cano – Served as president and secretary of the business that merged with Trump Media. According to SEC filings, Renatus Tactical’s investment priorities include: Cryptocurrencies and blockchain – a focus on companies with far-reaching regulatory impacts and high market uncertainty. Data security technology - in response to the increasing demand of governments and enterprises for information security. Defense and dual-use technologies – involving the military and government procurement markets, policy trends have a significant impact. Trump’s correlation becomes a potential risk, market reaction remains to be seen While the SPAC’s target market has potential room for growth, the company’s “Trump label” also poses additional risks. Renatus Tactical said in the risk disclosure document: “Some companies may be reluctant to cooperate with us because of our association with Trump media and President Trump. In addition, Trump Media’s own business disputes may also affect investor confidence. In March 2024, it took nearly 30 months for TMTG to complete its merger with Digital World Acquisition Corp. (DWAC), during which the SEC investigated insider trading, financial misrepresentation, and imposed a $18 million fine. Fundraising plans and future challenges Renatus Tactical expects to issue 17.5 million common shares ($10 each) and 3,942,500 warrants ($1 each) for a total proceeds of $178.9 million. However, the specific M&A targets have not yet been confirmed, and there is still uncertainty in the market. The company said in the SEC filing: The current administration has taken unprecedented steps to integrate digital assets into the national financial strategy. However, the regulatory environment in the cryptocurrency and defense tech sectors remains volatile, and it remains to be seen whether Renatus Tactical will be able to successfully implement its acquisition plan. Related reports Trump will give a speech at the cryptocurrency conference tomorrow and will disclose the major progress of bitcoin reserves? Hyperliquid 50 times giant whale real body doubt” X account renamed MELANIA, is there really a Trump insider? ZachXBT trailer kicks out criminal evidence today Trump released 80,000 pages of confidential documents on the “Kennedy assassination”: no deletions, the plot is very interesting… 〈Trump’s media enter the encryption and defense industry! Established SPAC to raise $179 million" This article was first published in BlockTempo’s “Dynamic Trend - The Most Influential Blockchain News Media”.