Trump Media Launches $179M SPAC, Targets Crypto and Defence Deals

Former Congressman Devin Nunes will lead the blank-cheque company targeting blockchain and 'dual-use' technologies amid administration's crypto embrace

Trump Media & Technology Group (TMTG) executives just launched a $179 million Special purpose acquisition company (SPAC) targeting crypto and defence-related deals.

TMTG runs the Truth Social social-media platform and is majority-owned by US President Donald Trump.

Three senior Trump Media & Technology Group executives formed Renatus Tactical Acquisition Corp I — a Cayman Islands-based blank-cheque company targeting acquisitions in cryptocurrency, blockchain, and dual-use technologies.

Just two weeks after President Trump signed executive orders establishing a digital asset stockpile and strategic Bitcoin reserve, his media company's leadership is positioning themselves to capitalise on the administration's policy shift.

"Digital assets are becoming an increasingly important aspect of the national financial strategy," Eric Swider, CEO of Renatus Tactical and board member of Trump Media, declared in the company's SEC filing.

The Money and the Power

Renatus isn't playing small. The SPAC aims to raise a hefty $178.9 million through:

• Public offering of 17.5 million shares at $10 each

• Private placement of 3.94 million warrants at $1 each

  

  @SEC

Renatus’ executive team? Straight transplants from Trump Media

• Devin Nunes (former congressman and current Trump Media CEO) as Chairman

• Eric Swider (former Digital World Acquisition Corp (DWAC) CEO) as Chief Executive

• Alexander Cano (former DWAC president) as Chief Operating Officer

Trump isn't directly involved in this SPAC — though he maintains a substantial stake in Trump Media worth about $2.36 billion through his 114.75 million shares.

One surprising connection? Former Attorney General Pam Bondi consulted for Renatus LLC, a separate company also founded by Eric Swider, and received $3 million worth of Digital World shares for her services.

What separates Renatus from other crypto-focused SPACs - and there have been plenty - is its focus on technologies with national security applications:

• Blockchain infrastructure with applications for financial security and data integrity

• Advanced cryptography and security technologies

• Dual-use technologies that bridge civilian markets and defence applications

Political Connections

The SPAC enters a fiercely competitive acquisition landscape.

Beyond typical blank-cheque companies, Renatus will battle:

• Established crypto venture capital firms flush with cash

• Strategic corporate investors seeking blockchain capabilities

• Private equity funds with deep tech expertise and longer timelines

The Trump connection will be both an advantage and potential liability. Some target companies may think twice about climbing into bed with such politically charged partners.

How It Impacts the Ecosystem

The implications stretch beyond immediate investment opportunities.

For crypto entrepreneurs, Renatus represents a potential fast track to public markets with powerful political allies.

For institutional investors, it offers exposure to emerging technologies with potential national security applications.

For the broader market, it signals the mainstreaming of digital assets within traditional financial and defence ecosystems.

Yet questions linger.

Will Renatus successfully bridge the gap between Trump's political base and the often libertarian-leaning crypto community? Can it overcome the reputational challenges inherent in its Trump Media association?

Does this SPAC represent genuine strategic vision, or simply an attempt to capitalise on Trump's pro-crypto rhetoric while the getting is good?