Thumzup, an American social media marketing company that counts Donald Trump Jr., the son of US President Donald Trump, as a key shareholder, has raised $50 million to expand its operations to crypto mining and funds the Multi-Asset Treasury token purchases.
The Los Angeles-based company that runs the ADTECH app, which allows users to earn cash for social media content, started adding crypto assets to the Treasury in January when it purchased Bitcoin (BTC) and joined the trend of public companies loading Apex Digital Currency in hopes of rising stock prices.
Thumzup currently owns 19.1 BTC Current Bitcoin Market Value $2.35 million
Social media marketing company Thumzup has announced plans to become a leader in crypto mining and financial management
According to a announcement made Wednesday, Thumzup will expand its crypto-related strategy, including large-scale cryptocurrency mining and targeted blockchain investments. This movement comes inside Bitcoin Mining Giants shift US Business harnessing favorable regulations and infrastructure.
The company said it would set up a “state-of-the-art” cryptocurrency mining infrastructure from offering $10 per $10 on Tuesday in TZUP stock and work with mining technology providers to accelerate the program, using a portion of its total of $50 million in total.
According to SEC filing In July, Don Jr. bought about 350,000 TZUP stocks, and was then worth about $3.3 million. At the time, Thumzup said its board approved a $250 million plan to expand the Cryptocurrency Department to include other large assets beyond BTC.
The president’s eldest son sells stock to the public on a secondary stock offering subject to SEC approval and is listed as one of the shareholders considering offloading 3.25 million TZUP shares. The $50 million raised through common stock that Thumzup closed this week is expected to win $46.5 million after the fee.
Thumzup also appointed several venture capitalists, fund managers, real estate companies and individuals out of the 11 sales shareholders. This comes after the shelving registration of the Digital Assets Treasury (DAT) company, which has turned to social media marketing, was declared effective by the SEC on May 30th.
CEO Robert Steele called it a “transformational step” in the company’s evolution, saying Thumzup is using its enhanced capital base and a “clear strategic vision” to expand its digital economy’s reach into high-growth regions. He emphasized that while positioning Thumzup as a leader in digital asset mining and financial management, it is about building “durable, profitable” assets.
On Wednesday, Tzup rose 7.62% in after-hours trading after closing trading days with a loss of nearly 1.1%. This year, the stock price has grown nearly 194.5% so far, reaching an all-time high of $15.46 on August 8th.
The Trump family will deepen their relationship with the crypto industry in the US’s regulatory environment.
The Trump family has established or invested in several startups, including the Defi and Stablecoin Project World Liberty Financial (WLFI) and the Bitcoin Mining Firm American Bitcoin (such as a subsidiary of public miner HUT 8 (HUT)), and is actively involved in the crypto sector. Earlier this year, Presidents Trump and Melania released the highly controversial memokines: $Trump and $Melania.
The family has 60% control over the world’s Liberty Financials, earning 75% of net protocol revenues from coin sales and receiving approximately 22.5 billion WLFI tokens. Trump is listed as the leading advocate for the name, with his sons Don Jr. and Eric actively involved in their management and acting as Web3 ambassadors.
Eric Trump is a co-founder of World Liberty and also serves on the board of directors of Alt5 Sigma, registered with the NASDAQ. Tron (TRX) founder Justin Sun is the company’s largest private shareholder, purchasing a WLFI worth $30 million in January.
Both are don’t. JR and Eric are American Bitcoin shareholders, and Eric is listed as Chief Strategy Officer. Bitcoin Miner is about to make public through a merger with existing NASDAQ registered companies expected in the third quarter of 2025.
Trump was a harsh critic of the Bitcoin and crypto sector during his first term at the White House, but changed his stance towards the 2024 presidential election after he was controversial and censored. Since taking office, he has enacted crypto-friendly policies and has supported laws such as the stable regulatory genius law, the Clarity for Market Structure Act, and the CBDC Surveillance Act to ban the development of digital currencies for US central banks. He also signed an executive order declaring Bitcoin as a strategic reserve asset and establishing digital asset stockpiles, including ETH, SOL, ADA and XRP.
Last week, the president signed an executive order directing the Labor Bureau to include cryptocurrency in the $9 trillion 401(k) market, allowing millions of Americans to invest a portion of their retirement savings in Bitcoin and other digital assets.
