Trump Media and Technology Group (TMTG), the company that owns US President Donald Trump’s Truth Social platform and is partially owned by the president, has received approval from the US Securities and Exchange Commission (SEC) for its registration statement tied to its $2.

Trump Media and Technology Group, the parent company of President Donald Trump’s Truth Social platform, has received formal approval from the U.S. Securities and Exchange Commission for its $2.3 billion Bitcoin treasury deal.

"My administration is working with governors to pass the GENIUS Act supporting the creation of dollar-backed stablecoins, and we also will be working to create clear and simple market frameworks that will allow America to dominate the future of crypto and bitcoin," he told a filled room to scattered applause.

This article was updated to clarify that American Bitcoin mined its Bitcoin holdings. American Bitcoin, a Bitcoin BTC mining company backed by Eric Trump and Donald Trump Jr., mined millions worth of the apex cryptocurrency,

The SEC has approved Trump Media and Technology Group’s (TMTG) registration statement linked to a $2.3 billion Bitcoin treasury initiative.

President Donald Trump's election victory in November has turned into a sweet dream for crypto investors, none more so than for those who invest in the world's most-valuable cryptocurrency, Bitcoin ( BTC -0.57%). Since Trump's win last November, Bitcoin is up almost to 60% (as of May 29) and has surpassed $111,000 on several occasions.

American Bitcoin, which aims to go public as soon as this year, has at least 215 Bitcoin in its holdings, according to a recent SEC filing.

President Donald Trump’s recent actions have brought considerable optimism to Bitcoin investors. Following his election victory, Trump has taken several steps that have positively impacted the world’s most valuable cryptocurrency.

Trump Media has filed for a Truth Social Bitcoin ETF, backed by Yorkville & Crypto.com, targeting retail investors in the $60bn market via NYSE Arca.

The company and the man whose name it bears, President Donald Trump, continue to strengthen their ties to crypto.

The president addressed members of the crypto industry in a prerecorded message on Thursday, discussing efforts to pass two crypto-related bills in Congress.