Trump Jr. Takes Stake In Social Media Company Thumzup In Bitcoin Push

Thumzup Media Corp. (TZUP) filed a statement on Wednesday, stating that Donald Trump Jr. purchased 350,000 shares of the company.

Thumzup shares were down 17% in afternoon trading. Retail sentiment on the stock was in the ‘bullish’ territory, compared to ‘extremely bullish’ a day ago, with retail chatter being ‘extremely high,’ according to data from Stocktwits.

The company, which runs the Thumzup app, is known for paying everyday users to post about participating brands on platforms such as Instagram and Facebook.

The stake by Trump Jr. was worth around $3.63 million, based on the current trading price of $10.36 at the time of writing.

Trump Jr. made the Thumzup stock purchase on the recommendation of his investment advisor and has no other involvement with the company, according to a Bloomberg News report, citing a person close to him.

On Wednesday, Thumzup stated in its filing on July 7 that it closed the public offering with Dominari Securities for $6.50 million in gross proceeds.

Bloomberg News added that Thumzup will now be accumulating six other coins, helped by the proceeds from the private placement.

Thumzup revealed in January that it would allocate most of its liquid assets to Bitcoin, a move that aligns with the broader corporate shift toward cryptocurrency. As of now, its holdings exceed $2 million.

The stake by Trump Jr. comes on the back of him deepening his crypto footprint after backing a $220 million raise for American Bitcoin, a mining firm reportedly preparing for a Nasdaq debut via merger with Gryphon Digital.

He has also played a key role in launching Trump Media’s $2.5 billion Bitcoin treasury.

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