Thumzup Media Corporation (NASDAQ:TZUP), a digital adtech company backed by Donald Trump Jr., has received board approval to allocate up to $250 million into cryptocurrencies.
What Happened: The board authorization allows Thumzup to hold a diversified portfolio including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), Ripple (CRYPTO: XRP), Dogecoin (CRYPTO: DOGE), Litecoin (CRYPTO: LTC), and USDC (CRYPTO: USDC).
The announcement reflects a growing trend of Trump-aligned businesses embracing digital assets as part of broader treasury strategies.
Thumzup CEO Robert Steele said the decision comes amid a shift in the U.S. regulatory landscape.
"As the U.S. federal government moves toward more crypto-friendly policies and greater regulatory clarity, Thumzup is committed to remaining at the forefront of this transformative technology," Steele said.
Also Read: Bitcoin, Ethereum, XRP Lead Crypto Market Cap Rebound Above $4 Trillion
Why It Matters: Thumzup's decision echoes a pattern seen across several Trump-affiliated ventures.
Trump Media & Technology Group (NASDAQ:TMTG), the parent of Truth Social, holds a material stake in Trump-themed tokens and has promoted crypto-friendly payment processors on its platform.
In 2024, campaign finance filings revealed Donald Trump‘s own crypto holdings, which included ETH and various Trump-themed meme coins received from supporters.
Trump also declared support for Bitcoin mining and stablecoin innovation during campaign events earlier this year.
Thumzup’s portfolio allocation expands beyond Bitcoin to include XRP and DOGE, both of which have strong retail investor bases and growing adoption in payments and remittances.
The decision to include USDC indicates a hedge toward on-chain dollar exposure amid crypto market volatility.
The board’s approval makes Thumzup one of the few publicly traded companies to formally adopt a multi-asset crypto treasury strategy that includes meme coins, stablecoins, and Layer-1 tokens.
The firm says it aims to "create significant value for TZUP shareholders" through strategic exposure to the evolving crypto market.
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