Trump Media & Technology Group (DJT) saw its stock surge 7.74% in pre-market trading on Tuesday, following a whirlwind of conflicting reports regarding the company's alleged plans to raise $3 billion for cryptocurrency investments. The dramatic movement came as investors reacted to news that initially suggested a bold move into the crypto space, followed by a swift denial from the company.

The Financial Times initially reported that Trump Media & Technology Group, which operates the Truth Social platform, was planning to raise approximately $3 billion through a mix of equity and convertible bonds. According to the report, which cited six sources familiar with the matter, the company intended to use these funds to invest in cryptocurrencies such as Bitcoin. This news initially sparked investor excitement, as it suggested a significant expansion of the company's business model into the burgeoning crypto market.

However, in a dramatic turn of events, Trump Media & Technology Group vehemently denied these reports. The company responded to media inquiries by dismissing the Financial Times report, stating, "Clearly, the Financial Times reporter is dumb and believed even dumber sources." Despite this denial, investor enthusiasm remained high, with the stock continuing its upward trajectory in pre-market trading. The conflicting information created a buzz around the stock, potentially contributing to its significant price surge as traders and investors attempted to decipher the company's true intentions and future direction in the cryptocurrency space.