Trump Media Leaders Back $179 Million SPAC, Crypto on Radar

The group includes Eric Swider, the CEO of Renatus Tactical; Alexander Cano, Renatus Tactical’s operating chief; and Trump Media CEO Devin Nunes, who serves as chair of Renatus Tactical.

Their plans involve raising $179 million through a public and private offering under Renatus Tactical Acquisition Corp I, a special-purpose acquisition company (SPAC) registered in the Cayman Islands. The details were outlined in a regulatory filing on March 14.

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In its filing, Renatus Tactical pointed out the steps taken by the Trump administration to support the crypto industry. It highlighted an executive order from March 7 that called for the creation of a Bitcoin BTC $84,149.88 reserve and a crypto stockpile, as well as a January directive that tasked a working group with drafting new crypto regulations.

The company acknowledged that its connection to President Donald Trump and his media firm could create challenges. It noted that some businesses "may not want to engage with us to provide services due to the affiliation of our management team and our board of directors" with Trump Media.

While the SPAC has not specified its exact target, it has expressed interest in acquiring "one or more businesses". It is also considering investments in data security and technology with applications in both military and civilian sectors.

Meanwhile, President Trump and his partners at DT Marks DEFI LLC recently earned approximately $390 million from World Liberty Financial (WLFI). How? Read the full story.