Trump Media and Technology Group (TMTG), the parent company of Truth Social, has announced a $400 million stock buyback program, stating that the move will not interfere with its ambitious plan to build a Bitcoin treasury.
The company disclosed in a June 23 filing that its board of directors had approved the repurchase of up to $400 million worth of common stock. Despite the buyback, TMTG confirmed that it still intends to allocate more than $2 billion toward acquiring Bitcoin, reaffirming its digital asset strategy.
Initial reports had suggested the company sought to raise $3 billion for crypto investments—claims TMTG initially denied. However, it later revealed a $2.5 billion capital injection earmarked for Bitcoin purchases. Of that, roughly $2.3 billion came through a private placement offering, which included the resale of 56 million shares and 29 million shares associated with convertible debt instruments.
The U.S. Securities and Exchange Commission (SEC), under the leadership of Paul Atkins, a Trump-era nominee, approved the company’s registration statement for the Bitcoin investment earlier this month. TMTG has also applied to launch a spot Bitcoin exchange-traded fund (ETF), while Truth Social has separately filed to list a dual ETF backed by both Bitcoin and Ethereum.
The media firm’s crypto ambitions align with President Donald Trump’s broader digital asset policy agenda. In March, Trump signed an executive order proposing the creation of a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile” to hold forfeited digital assets and potentially expand national crypto holdings.
However, the moves have sparked political pushback. Members of the Senate Permanent Subcommittee on Investigations have accused the president of using his office to favour cryptocurrency-related entities, raising concerns over potential conflicts of interest.
On the same day as TMTG’s buyback announcement, California Senator Adam Schiff introduced legislation that would prohibit the president, First Family, and other federal officials from issuing, promoting, or sponsoring digital assets. If enacted, such a law could place Trump Media’s Bitcoin initiatives under legal scrutiny.
Donald Trump and other senior administration officials have made a fortune off of crypto schemes.
Today, I’m introducing the COIN Act to put a stop to this corruption in plain sight. pic.twitter.com/8wieNSCPgC
— Adam Schiff (@SenAdamSchiff) June 23, 2025
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