The Trump family have deepened their business connections with Conor McGregor with the promise of a $23 million investment in one of the former MMA fighter\u2019s business ventures.<\/p>\n
The investment will increase the Trumps\u2019 involvement in MMA Inc, an American-listed martial arts training company backed by McGregor and John Kavanagh, his trainer, while also bringing McGregor closer to the Trump family\u2019s cryptocurrency business.<\/p>\n
New stock exchange filings for the company show that last week MMA Inc closed a $3 million investment from a Trump-family<\/a> investment vehicle and had a promise of $20 million more.<\/p>\n The initial $3 million investment was led by American Ventures, a Trump family vehicle, with Donald Trump Jr<\/a> also investing, the company said. The deal allows American Ventures to make further share purchases in the company \u201cup to $20 million \u2026 from time to time subject to certain restrictions\u201d, according to the company.<\/p>\n The investment was done in the form of a private placement brokered by Dominari Securities, a firm run by Kyle Wool, who handles a number of the Trump family\u2019s private investments.<\/p>\n Dominari was described by The Wall Street Journal as \u201csomething of an in-house investment bank for the Trump family\u2019s business empire, handling everything from crypto to manufacturing deals\u201d.<\/p>\n MMA Inc also announced that it has struck a memorandum of understanding with cryptocurrency company World Liberty Financial<\/a>, which is also connected to the Trump family. Liberty Financial will \u201cdesign, issue, and scale\u201d a utility token issued by MMA, which would then be integrated into USD1, a stablecoin issued by World Liberty.<\/p>\n MMA Inc said that the partnership would \u201ccreate one of the world\u2019s first large-scale, real utility Web3 economies in sports, bringing blockchain-powered engagement to a global community of fans, coaches, athletes and gyms\u201d.<\/p>\n