Blockchain Billionaire's Next Move

Trump Media & Technology Group, the company founded by former President Donald Trump, has registered a new special purpose acquisition company (SPAC) with the Securities and Exchange Commission (SEC). The new SPAC, dubbed DT Company, has a target size of $179 million and is seeking to merge with an existing US-based crypto, blockchain, or data security business.

According to a filing with the SEC, DT Company is looking to merge with a target company that is focused on the development, maintenance, or operation of a blockchain, cryptocurrency, or data security business. The target company must have a significant presence in the US and have generated at least $50 million in annual revenue over the past two years.

The SPAC, led by CEO and Chairman Devin Johnson, has a 21-day due diligence period to identify and negotiate with potential target companies. If a merger agreement is reached, the combined entity will be listed on the Nasdaq stock exchange under the ticker symbol DT.

DT Company's registration statement notes that the company's board of directors includes several experts in the fields of technology and finance, including a former CEO of a publicly traded technology company and a former partner at a leading private equity firm.

The registration of DT Company comes as the cryptocurrency and blockchain industries continue to experience significant growth and interest. The merger of a SPAC with a target company in this space could provide a boost to the combined entity's valuation and provide investors with a new way to participate in the growth of these emerging technologies.

It is worth noting that the registration of a SPAC does not guarantee a successful merger, and the process of identifying and negotiating with target companies can be complex and time-consuming. However, the registration of DT Company marks an important step in the company's efforts to bring a new technology-focused business to the public markets.