Trump Media and Technology Group, the publicly traded company of former President Donald Trump behind the social media platform Truth Social, has just announced it will buy back up to $400 million of the company's common stock. This move comes as the company maintains its larger plan to accumulate Bitcoin.
Stock buyback without affecting the Bitcoin fund
The board of #TrumpMedia has authorized the stock buyback but specifically noted that this action will not change or withdraw any of the $2.3 billion the company raised in May to buy Bitcoin.
"The board of directors has voted confidence in the company, its stock, and our strategic plans," said Devin Nunes, CEO and Chairman of Trump Media, in a statement. "As Trump Media currently has about $3 billion on the balance sheet, we have the flexibility to take actions like this to support robust returns for shareholders while we continue to explore other strategic opportunities."
The buyback will be executed in the open market, and the scale and timing will depend on Trump Media's decision. Amid news of the buyback, Trump Media's stock (DJT) fell slightly by 0.1% on the day and is currently trading at $17.81. This has been a volatile year for this stock, having dropped nearly 48% since the beginning of 2025 as the company becomes increasingly tied to the cryptocurrency world.
Increasingly deepening ties with the cryptocurrency world
In addition to creating a Bitcoin treasury, the brand is also actively building financial products related to cryptocurrency, including filing for two separate Truth Social-branded ETF funds - one independent Bitcoin ETF and one combined Bitcoin/Ethereum ETF.
Earlier this year, a letter to DJT shareholders indicated that the company was considering launching its own cryptocurrency wallet and cryptocurrency token. Subsequent reports of an impending token launch were denied by the company, but they did not mention or exclude the possibility of a future launch.
Former President Trump's cryptocurrency-related moves began developing earlier, most notably his launch of an official meme coin on Solana (TRUMP) in January, along with the launch of the DeFi protocol backed by Trump, World Liberty Financial, last fall.
Trump's cryptocurrency moves have attracted scrutiny from lawmakers, who have raised concerns about potential foreign interference, misuse of political fundraising, and the personal enrichment of the President. That scrutiny has recently intensified, as the President disclosed earnings of $57.3 million from World Liberty Financial last week - just days before reports surfaced that the Trump family had reduced its stake in the company, perhaps due to growing concerns.