Trump Media says $400M stock buyback won’t affect BTC treasury plans

Trump Media and Technology Group, the institution that owns the Truth Social platform, said its $400-million stock buyback programme volition not impact its plans to make a Bitcoin treasury.

In a Monday notice, US President Donald Trump's media institution said its committee of directors had authorized the repurchase of up to $400 cardinal successful communal stock. The banal buyback does not interaction the company's strategy to found a Bitcoin (BTC) treasury utilizing much than $2 cardinal successful funds, it said.

The media radical initially denied reports that it was readying to rise astir $3 cardinal to put successful cryptocurrency, but aboriginal confirmed a $2.5-billion superior backing to acquisition Bitcoin. According to the Monday notice, Trump Media’s Bitcoin strategy “featured a backstage placement offering of astir $2.3 cardinal successful the aggregate.”

The US Securities and Exchange Commission (SEC), chaired by Trump nominee Paul Atkins, approved the registration statement for the media company’s Bitcoin woody successful June. The filing showed the $2.3 cardinal for the Bitcoin concern came from the resale of 56 cardinal shares and 29 cardinal shares tied to convertible notes arsenic portion of indebtedness and equity agreements.

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Trump Media has besides applied to launch a spot Bitcoin exchange-traded money (ETF), which Truth Social separately filed to list and commercialized shares of a dual ETF tied to Bitcoin and Ether (ETH). The SEC has been approving listings of spot Bitcoin ETFs since January 2024 and spot Ether ETFs since May 2024.

National Bitcoin stockpile plans nether Trump

Trump has besides proposed, done a March enforcement order, that the US found a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” The reserves would clasp integer assets forfeited to the US government, but Trump advisers person suggested different ways of expanding the stockpile.

Lawmakers connected the US Senate Permanent Subcommittee connected Investigations accused the president of utilizing his presumption wrong the authorities “to enrich cryptocurrency firms” by establishing the stockpiles.

The Trump Media announcement came the aforesaid time that California Senator Adam Schiff introduced authorities aimed astatine barring the US president, First Family, and different nationalist officials from issuing, sponsoring oregon endorsing integer assets. Trump Media, nether the president’s namesake, could beryllium successful usurpation of the instrumentality with its projected Bitcoin strategy if it were to pass.

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