According to reports from Wu, Trump Media and Technology Group announced plans to repurchase $400 million worth of stock. The company stated that this repurchase will not affect its Bitcoin fund allocation plans.
The plan is supported by $2.3 billion in private equity financing and has been approved by the U.S. Securities and Exchange Commission. Trump Media operates Truth Social and Truth.Fi, with its Bitcoin funds coming from about 50 institutional investors.
The company stated that there is approximately $3 billion in funds on the balance sheet, which will maintain flexibility to explore more strategic opportunities.
