Thumzup Media Corporation, a LA-based AdTech company, has secured board approval to allocate up to $250 million into a diversified portfolio of cryptocurrencies. The move is backed by Donald Trump Jr., who recently disclosed ownership of 350,000 shares valued at approximately $4 million.
In a press release published on Thursday, Thumzup affirmed intentions to invest in major digital assets, such as Bitcoin(BTC), Ethereum (ETH), Solana (SOL), XRP, Dogecoin (DOGE), Litecoin (LTC), and the USD-backed stablecoin (USDC). The declaration comes a week after the company was seen presenting its wider treasury plan to move away with Bitcoin as a solitary currency.
CEO Robert Steele attributed the decision to a shift in the U.S. regulatory stance toward digital assets. “By diversifying our portfolio of cryptocurrencies to gain wider exposure to the market as a whole, we believe Thumzup is optimally positioned to create significant value for TZUP shareholders,” said Steele.
Active since 2020, the platform Thumzup offers rewards to users who share branded content on social media. This has amplified investor interest, with the company recently recording a $6.5 million private offering in convertible preferred capital, organized by the Dominari Securities. The parent company of Dominari has both Donald Trump Jr. and Eric Trump as its advisors.
However, despite these developments, Thumzup made a net loss of $2.2 million in the first quarter of 2025 compared to the loss it recorded in the first quarter of 2024, which was $330,712. The company has a listing in the Nasdaq and it continues to drive forward with its crypto-first growth momentum.
As per Yahoo Finance, Thumzup (TZUP) closed at $12.59 on July 17, (-2.93%) in the last 24 hours.
Also Read: Trump Set to Allow $9T Retirement Market to Invest in Bitcoin
