Executives from Trump Media & Technology Group have established a new SPAC and are seeking at least $179 million in financing, aimed at acquiring encryption-related businesses.

[Trump Media & Technology Group executives establish new SPAC and seek at least $179 million in financing to acquire crypto-related businesses] According to a registration statement submitted to the SEC on Friday, three senior leaders of Trump Media & Technology Group have formed a new blank check company (SPAC) aimed at acquiring crypto assets or businesses in related industries — meanwhile, the Trump administration is attempting to shape the landscape of this industry. The special purpose acquisition company (SPAC) Renatus Tactical Acquisition Corp I, registered in the Cayman Islands, plans to raise at least $179 million through an initial public offering (IPO) and private placements, with the funds intended for the acquisition of another business. The company's leadership has close ties to U.S. President Trump's media company: Renatus Tactical CEO Eric Swider is a board member of Trump Media and led the company that merged with Trump Media; Trump Media's CEO, President, and Chairman Devin Nunes also serves as the Chairman of Renatus Tactical's board; Renatus Tactical COO Alexander Cano was formerly the President and Secretary of the company that merged with Trump Media.

According to documents submitted by Renatus Tactical to the SEC, the company's goal is the acquisition of Crypto Assets and blockchain, data security, and dual-use technology sectors, which have significant government involvement as regulators or primary customers.