Is Trump Building a Crypto Empire? TMTG Drops $400M Bombshell
Trump Media and Technology Group (TMTG), the parent company of Truth Social, announced a $400 million share buyback program on June 23, 2025, a proof of confidence despite a 46% year-to-date decline in its stock price.
The SEC-approved buyback targets common stock and warrants, with repurchased shares to be retired at management’s discretion.
CEO Devin Nunes stated that the company’s nearly $3 billion cash reserve allows the company to execute the buyback without giving up its $2.3 billion Bitcoin treasury strategy. Following the announcement, there was a 2.8% stock price increase, a sign of investor support.
TMTG stock price (Source: Yahoo Finance)
The buyback is also part of a general finance plan that includes a $2.3 billion private placement offering completed in May 2025, fully allocated to Bitcoin investments.
TMTG’s financial position supports both programs independently, similar to Strategy’s Bitcoin treasury model. With the company’s substantial cash reserves and financial flexibility, it can pursue both programs with no trade-off between shareholder returns and its cryptocurrency ambitions.
TMTG’s Bitcoin Treasury Plan Gains SEC Approval
TMTG’s $2.3 billion Bitcoin treasury plan, formally introduced through SEC approval of its S-3 registration on June 13, 2025, positions the company as a leader in the crypto market. The investment plan intends to establish Bitcoin as a long-term corporate asset, in line with President Donald Trump’s March 2025 executive order for a U.S. Strategic Bitcoin Reserve.
On June 16, 2025, TMTG filed for a Truth Social Bitcoin and Ethereum ETF to be listed on NYSE Arca with Crypto.com as custodian, allocating 75% to Bitcoin and 25% to Ethereum. The company also applied for a spot Bitcoin ETF, which signifies its intention to invest more in cryptocurrencies.
The buyback will not affect the Bitcoin treasury, as both programs are funded separately. TMTG’s financial flexibility gives it the ability to pursue both strategies concurrently, with the Bitcoin plan rooted in its long-term vision for digital assets.
Trump Media’s Plans Draw Regulatory and Public Eyes
While the company’s fiscal transparency and its dealings are under scrutiny due to its political ties. California Senator Adam Schiff proposed a bill to prohibit the president and officials from endorsing digital assets, citing potential conflicts of interest.
Additionally, the Trump family’s company has reduced its stake in World Liberty Financial by 20%, raising speculations about backdoor trading.
While those issues do not directly impact TMTG’s financial plans, they affect public and regulatory attention.
TMTG’s strategy is similar to Strategy’s successful Bitcoin treasury, but its political connections bring increased scrutiny. With a $3 billion balance sheet, TMTG is capable of executing the $400 million buyback and $2.3 billion Bitcoin treasury without financial pressure.
