On June 14, according to public documents, DRW Investments, a Chicago company founded and controlled by trader Don Wilson, purchased nearly 4 million shares of Trump Media & Technology Group last month, as part of a financing round for purchasing over $2 billion in cryptocurrency.
Notably, 9 weeks ago (in March this year), Cumberland, a cryptocurrency liquidity provider also controlled by Wilson, received a deferred prosecution from the U.S. Securities and Exchange Commission, which dismissed a civil lawsuit brought by the Biden administration alleging the company acted as an unregistered crypto asset trader, selling crypto assets as securities.
DRW stated: "We are a major institutional participant in the crypto asset field with over a decade of history. We have adopted multiple strategies in the crypto ecosystem and we see the benefits of holding Bitcoin on our company's balance sheet. This transaction is purely viewed from this perspective."
