Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT), the media company founded by President Donald Trump, announced on June 23 that its board has authorized a $400 million stock buyback while confirming that its previously announced bitcoin treasury plan remains unchanged. The company operates a range of businesses, including the social media platform Truth Social, the streaming service Truth+, and the financial technology brand Truth.Fi. Trump Media explained:

The Share Repurchase Authorization would be funded separately from, and would not alter, Trump Media’s previously announced bitcoin treasury strategy, which featured a private placement offering of approximately $2.3 billion in the aggregate.

The Sarasota-based company stated that the board approved the repurchase of common shares and warrants through open market transactions. Repurchased shares will be retired, and the company retains full control over the process in compliance with U.S. Securities and Exchange Commission (SEC) regulations.

CEO and chairman Devin Nunes stated: “The Board took a vote of confidence in our company, our stock, and our strategic plans.” The executive added:

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.

A $2.3 billion plan is in progress to create a bitcoin treasury for Trump Media, adopting a digital asset approach similar to companies like Strategy (Nasdaq: MSTR). The company has also filed for a Bitcoin-Ether ETF, allocating 75% to bitcoin and 25% to ether, partnering with Crypto.com. Meanwhile, World Liberty Financial, affiliated with Trump, has launched the USD1 stablecoin and intends to offer high-yield crypto investment options. These actions align with President Trump’s executive order to establish a U.S. Strategic Bitcoin Reserve, part of a broader effort to position the United States as a global cryptocurrency leader.

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