President Trump's family-owned media company, Trump Media & Technology Group (TMTG), is preparing to secure $3 billion for the purchase of cryptocurrencies such as Bitcoin. Reports indicate that this funding will comprise $2 billion in fresh equity and $1 billion through a convertible bond.

The initiative by TMTG to venture into cryptocurrencies coincides with President Trump's clash with Harvard University. The company aims to announce the fundraising ahead of a significant crypto conference in Las Vegas, where Vice President JD Vance and Trump's sons, Donald Jr. and Eric, are set to deliver speeches. The offering may involve underwriters like ClearStreet and BTIG, with the share sale being executed near the closing price from Friday.

This move by TMTG follows closely after President Trump's threat to redirect $3 billion in federal research grants from Harvard University to American trade schools. There was a freeze on approximately $2.2 billion in grants from the National Institutes of Health due to allegations against Harvard for fostering antisemitism and non-compliance with federal mandates. Harvard has taken legal action against the funding cuts, arguing that it requires congressional approval to reallocate funds intended for biomedical research.

Despite operating independently from the government, TMTG's crypto aspirations are being closely watched due to its strong connections to the Trump family and the administration's policy stances. The convergence of TMTG's major crypto investment plans with the administration's efforts to pressure prestigious institutions and redirect public funding towards vocational programs is noteworthy.

President Trump's support for cryptocurrencies has been beneficial for the industry, especially in the United States. However, the ongoing crypto initiatives by organizations affiliated with Trump raise concerns about influence, priorities, and the boundary between private financial strategies and public policies.

Notably, critics recently scrutinized President Trump's crypto ventures, with a TRUMP meme coin event sparking controversy and prompting Democratic senators to demand a full guest list via a surprise press conference. TMTG's current ventures include NFTs, meme coins, and crypto mining, with plans to launch a crypto-focused ETF in the future.