Trump Media Plans $400 Million Stock Buyback
Trump Media and Technology Group, the company behind Truth Social, said Monday it’s planning to buy back up to $400 million of its own stock. The move, approved by the board, won’t touch the $2.3 billion the company set aside for Bitcoin purchases earlier this year.
Devin Nunes, the CEO and chairman, called it a “vote of confidence” in the company’s direction. With roughly $3 billion on hand, he said, they’ve got room to make moves like this while still hunting for other opportunities. The buybacks will happen on the open market, with the company deciding when and how much to scoop up.
But investors didn’t seem all that impressed—at least not right away. Shares of Trump Media (ticker: DJT) dipped slightly after the news, hovering around $17.81. The stock’s had a rough year, down nearly half since January.
Crypto Push Continues
The buyback isn’t the only thing Trump Media’s been up to lately. The company’s been diving deeper into crypto, starting with that big Bitcoin reserve in May. They’ve also filed for two ETFs tied to Truth Social—one just Bitcoin, the other mixing Bitcoin and Ethereum.
Earlier this year, a letter to shareholders hinted at plans for a crypto wallet and maybe even a Trump-branded token. Reports swirled about an imminent launch, but the company shot those down. Still, they didn’t rule it out entirely.
Trump’s crypto ventures aren’t exactly new, though. Back in January, he rolled out a Solana-based meme coin (TRUMP), and last fall, there was World Liberty Financial, a DeFi project tied to him.
Scrutiny and Skepticism
All this hasn’t gone unnoticed. Lawmakers have raised eyebrows over potential risks—foreign influence, sketchy fundraising, and whether Trump himself stands to benefit. Those concerns got louder last week when he reported $57.3 million in earnings from World Liberty Financial.
Then, just days later, news broke that the Trump family had cut its stake in the company. Maybe coincidence, maybe not. Either way, it’s another twist in a year full of them for Trump Media.
Edited by Andrew Hayward
