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Hassan Shittu

Journalist

Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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June 23, 2025

Trump Media & Technology Group Corp., the parent company of Truth Social, has announced plans to repurchase up to $400 million worth of its stock.

The move, confirmed in a press release on Monday, was approved by the company’s board of directors and will include the buyback of both common stock and warrants through open market transactions.

All repurchased shares will be retired, and the timing of the buyback will be left to the company’s discretion. Trump Media says the plan complies with the Securities and Exchange Commission (SEC) regulations.

With $3B War Chest, Trump Media Moves on Buybacks and Bitcoin Simultaneously

The company, trading under the ticker DJT on Nasdaq and NYSE Texas, described the buyback as part of a broader effort to return value to shareholders while maintaining flexibility for future growth.

Devin Nunes, CEO and chairman of Trump Media, said the decision reflects the board’s confidence in the company’s long-term direction.

“The Board took a vote of confidence in our company, our stock, and our strategic plans,” Nunes stated.

“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.”

While launching the buyback program, the company made clear that its previously announced Bitcoin strategy remains fully intact. In May, Trump Media revealed a $2.3 billion private placement deal designed to fund a long-term Bitcoin treasury plan.

The company confirmed Monday that the share repurchase will not interfere with its crypto strategy. Both initiatives are independently funded, according to the statement.

Trump Media has said it intends to model its Bitcoin treasury plans after MicroStrategy, a firm led by Michael Saylor that has accumulated over $14 billion in Bitcoin holdings.

The financial separation between the stock buyback and the crypto treasury gives the company room to act on both fronts. Trump Media noted that it may also consider buying back its outstanding convertible notes in the future, either through market purchases or private deals.

Trump Media has continued to expand its brand, which includes not only Truth Social but also the streaming service Truth+ and the fintech platform Truth.Fi.

The company did not disclose a specific timeline for the repurchase program but confirmed that all buybacks would be handled under standard market conditions.

With $3 billion in cash on hand, the company says it remains in a strong financial position to pursue multiple strategies simultaneously.

Trump Media Advances $2.3B Bitcoin Strategy With ETF Ambitions, SEC Filings, and New Partnerships

Following its $400 million stock buyback announcement, Trump Media & Technology Group (TMTG) is doubling down on its digital asset push, with a $2.3 billion Bitcoin treasury plan now fully in motion.

On May 30, the company confirmed it had raised $2.44 billion through a private placement involving nearly 50 institutional investors. The raise included 55.9 million shares at $25.72 and $1 billion in zero-coupon convertible notes, with proceeds earmarked for Bitcoin acquisition and general operations.

According to Trump Media, the move indicates a long-term shift toward holding Bitcoin as a core treasury asset.

Just weeks later, on June 13, the U.S. SEC approved TMTG’s S-3 registration statement, a key step in launching its large-scale Bitcoin treasury strategy. The approval adds regulatory backing to one of the most ambitious crypto plays by a U.S. public company.

Then, on June 16, TMTG filed for a Truth Social Bitcoin and Ethereum ETF, seeking to list the fund on NYSE Arca. The proposed ETF would allocate 75% to Bitcoin and 25% to Ethereum, with Crypto.com acting as custodian and execution agent.

If approved, the fund could offer direct crypto exposure to retail and institutional investors under the Truth.Fi brand.

TMTG also announced plans to expand its ETF offerings into other sectors, including energy, via a partnership with Yorkville America Digital and Crypto.com.

Together, these moves position Trump Media as a growing force in crypto finance, blending political branding with Bitcoin-backed financial products at a scale few U.S. companies have attempted.

CoinRoutes chief executive Dave Weisberger detonated a fresh round of anxiety in the XRP market on Monday when he asked, on Scott Melker’s podcast, whether Ripple Labs could finance a takeover of Circle “for $10 to $20 billion” without off-loading roughly $10 billion in XRP. “Who’s going to buy the $10 billion worth of XRP they would need to sell out of their treasury?” Weisberger said, warning that a sudden supply surge could overwhelm order books and “hammer the price.”

Is A XRP Sell-Off Conceivable?

Within hours, pro-XRP attorney Fred Rispoli fired back on X. “I love @daveweisberger1, but on this point he is mcgloning so hard,” he wrote, invoking Bloomberg strategist Mike McGlone’s reputation for bearish hyperbole. “Just based on what I’m getting offered for my Ripple shares on the secondary market, I don’t think Ripple would even have to sell one XRP to buy Circle.” Rispoli agreed that Ripple cannot raise $10 billion in pure cash, yet insisted the company could “easily afford the acquisition for a mix of cash and debt” and a heavy equity-swap.

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When Weisberger replied that Circle’s board would likely demand hard dollars unless it accepted Ripple equity or XRP “without a haircut,” Rispoli dug in. “No way to get $10B in cash—and $10B is too high anyway,” he wrote, citing late-2024 private-research valuations that placed Ripple at $15 billion excluding its ~36 billion escrowed XRP. If Circle’s price tag fell to $7–9 billion, he said, Ripple could close with “$1–3 billion cash on hand, a heavy stock exchange, and debt,” especially with “all that GCC money sloshing around crypto world right now.” Rispoli conceded it would be “a reach” but “doable without meaningfully selling XRP.”

Weisberger acknowledged the math—“That’s a reasonable analysis,” he wrote—yet cautioned that any price at the upper end of Rispoli’s range “could be some short-term pain for us XRP holders.”

Ripple’s tender-offer buyback in January 2024 valued the company at $11.3 billion, disclosing more than $1 billion in cash and about $25 billion in digital assets—mostly XRP—on its books. The firm still controls roughly 52 billion XRP (about 40 percent of supply), though 36 billion sit in timed escrow releases, limiting immediate access. At today’s $2.20 spot price, the spendable portion is worth a little under $35 billion, but moving even a fraction quickly would collide with thin venue depth—a point Weisberger hammered home.

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Ripple’s cash pile also shrank after its $1.25 billion purchase of prime broker Hidden Road in April, a deal settled with a blend of cash, equity and RLUSD stablecoins. That acquisition suggests the company prefers hybrid structures, bolstering Rispoli’s claim that Treasury XRP need not flood the market.

Is Circle Even For Sale?

The debate may be academic. Circle, issuer of USDC, has repeatedly declared it “not for sale” while marching toward a New York Stock Exchange listing that now targets a $7.2 billion valuation. Ripple’s rumored approach earlier this spring reportedly topped $5 billion, well below Weisberger’s stress case and within Rispoli’s “doable” band, but Circle rebuffed the talks and updated its S-1 two weeks later, enlarging the float rather than seeking a buyer.

Strategically, Ripple already fields its own dollar-token RLUSD, launched in January and positioned by president Monica Long as “complementary to XRP, not a competitor.” Absorbing USDC’s issuer would instantly rocket Ripple towards the size of Tether.

Even under Rispoli’s optimistic structure, Ripple might still need to liquidate several hundred million dollars’ worth of XRP for working capital and closing costs. At current volumes, unloading just 500 million XRP (≈ $1.1 billion) would equal half a week of global turnover—enough to distort price unless executed as private blocks.

At press time, XRP traded at $2.19.

Featured image created with DALL.E, chart from TradingView.com