BlockBeats reported on June 14 that according to public filings, Chicago-based company DRW Investments, founded and controlled by trader Don Wilson, purchased nearly 4 million shares in Trump Media & Technology Group last month as part of a fundraising round exceeding $2 billion in cryptocurrency.
Notably, 9 weeks prior (in March of this year), Cumberland, a crypto liquidity provider also controlled by Wilson, received a reprieve from the U.S. Securities and Exchange Commission. The SEC had dismissed a civil lawsuit filed by the Biden administration accusing the company of operating as an unregistered crypto asset broker and selling crypto assets as securities.
DRW stated: "We are a major institutional participant in the crypto asset space with a history spanning over a decade. We employ a variety of strategies within the crypto ecosystem, and we see advantages in holding Bitcoin on our corporate balance sheet. This transaction is purely viewed from this perspective."
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