Trump Media and Technology Group, the Donald Trump-backed firm behind social media platform Truth Social, will buy back up to $400 million of the company’s common stock, it announced Monday. 

The firm’s board of directors authorized the move, which it explicitly noted will not alter or pull funds from the $2.3 billion it raised to buy Bitcoin in May. 

“The board took a vote of confidence in our company, our stock, and our strategic plans,” said Trump Media CEO and Chairman Devin Nunes, in a statement. “Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities.”

The repurchases will be conducted on the open market, and the size and timing will be at Trump Media’s discretion, according to the announcement. 

Amid news of the buyback, shares of Trump Media (DJT) are down 0.1% on the day and now trading at $17.81. It’s been a turbulent year for the stock, which is down nearly 48% since the start of 2025 as the firm further intertwines itself with the crypto world. 

In addition to creating a Bitcoin treasury, the brand has been active in building out financial products with crypto connections, including filing for two separate Truth Social branded ETFs—one a standalone Bitcoin ETF, and the other a joint Bitcoin/Ethereum ETF. 

Earlier this year, a letter written to DJT shareholders indicated the firm was considering launching a crypto wallet and crypto token of its own. Later, reports of an imminent token launch were denied by the company, but it did not address or rule out a future launch. 

President Trump’s crypto endeavors started growing well before that though, most notably with his launch of an official Solana meme coin (TRUMP) in January plus last fall’s rollout of the Trump-backed DeFi protocol, World Liberty Financial.

Trump’s crypto moves have drawn scrutiny from lawmakers, who have highlighted the potential concern of foreign interference, misuses of political fundraising, and the President’s personal enrichment. 

That scrutiny has only grown of late, as the President disclosed earnings of $57.3 million from World Liberty Financial last week—just a few days before it was reported that the Trump family reduced its stake in the company, perhaps as a result of the growing concerns.

Edited by Andrew Hayward