The company, which went public via special purpose acquisition company, or #SPAC, last year, now trades with a market capitalization of around $4.9 billion.

The stock nearly doubled in 2024 as #Trump won the US presidential election in November. As of Friday's close, the stock was down nearly 48% this year.

#TrumpMedia said the buyback will be funded *independently* & will not affect the capital already earmarked for its #bitcoin #treasury initiative.

In Feb, #Trump Media reported a $400.9M net loss for the full year on just $3.6M in annual revenue. The company cited legal fees & a revised advertising revenue-sharing agreement as contributing factors.

Despite the losses, Trump Media said it ended the year with $776.8M in cash & short-term investments.

Calling #bitcoin a "crown jewel," #DevinNunes said the move was designed to defend the company against what he described as "discrimination by financial institutions" against *conservative* [fraudulent] businesses. The funds will also support the launch of #Trump-branded exchange-traded funds & other #crypto products later this year, pending #regulatory approval.

The announcement follows #TrumpMedia's $2.5 billion raise last month from institutional investors — one of the largest #bitcoin #treasury plays by a public company. The company said it would use those funds, which include $1.5 billion in equity & $1 billion in convertible notes, to buy bitcoin, with custody provided by Anchorage Digital & Crypto.com.

"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," said CEO #DevinNunes in a release announcing the move.

#Trump, who indirectly owns more than 114 million shares of the company through a revocable trust, remains the largest shareholder.

#TrumpMedia & Technology Group, the parent company of Truth Social, Truth+, & the #fintech platform Truth.Fi, said Mon its board approved a stock buyback of up to $400M.
#Trump Media #stock rose about 3% on the news premarket.

The Florida-based company, which trades under the ticker #DJT on both Nasdaq & NYSE Texas, said the buyback could include both common stock & warrants, executed through open market transactions. All repurchased shares would be retired.

The filing also discloses details of a *#NationalSecurity* [personsal enrichment scheme] agreement inked w/the Trump admin, which gives #Trump the personal authority to name a board member as well as a non-economic golden share.

The golden share gives the US govt veto authority over a raft of #corporate decisions, from idling plants to cutting production capacity & moving jobs overseas, as previewed in a weekend social media post by #Commerce Secy #HowardLutnick.

@GreenFire
#OrangeJuliusCaesar is given a pass on SO many mistakes/flubs/stupidity with the excuse "He's not a politician"… so it's okay if he is so badly misinformed that he "unwittingly" commits NUMEROUS crimes/mistakes (most notably, his acceptance of #emoluments, ignoring #DueProcess, etc.) that it only highlights WHY someone like him should NOT be #Potus.

I'll never forget #Republicans crying: "The presidency is not an Entry Level position!" when Obama ran in 2008. But #IOKIYAR.

Well, marines have arrived around 9:30P Local, in white armored Humvees -

Seemingly just connecting with the sheriffs, and standing guard at logical post, one end of the blockade.

But no "news", and you can hear reporters saying they have to stay around "in case" something breaks. Wonder if Bannon or Miller or other terrific friends of Sir might be able to keep the story going.

So many other things happening, between #Epstein and #emoluments

It's #TrumpVirus time! Made for TV.

$1.7 MILLION PER PLATE to attend the #GrifterInChief's #MemeCoin dinner is 500 TIMES the legal political donation limit. #MostCorruptPotusInHistory #DisasterPresidency #Emoluments #TheGriftGoesOn

#Trump, the first #convicted #felon elected president, has erased #ethical boundaries & dismantled the instruments of accountability that constrained his predecessors. There will be no official investigations because Trump has made sure of it. He has fired government inspectors general & #ethics watchdogs, installed partisan loyalists to run the DOJ, FBI & regulatory agencies & dominated a Republican-controlled Congress unwilling to hold hearings.

Yet a mark of how much #Trump has transformed Washington since his return to power is the normalization of moneymaking schemes that once would have generated endless political blowback, televised hearings, official investigations & damage control. The death of outrage in the Trump era, or at least the dearth of outrage, exemplifies how far the president has moved the lines of accepted behavior in Washington.

By conventional Washington standards, acc/to students of official #graft, the still-young #Trump admin is a candidate for the most brazen use of government office in American history, perhaps eclipsing even Teapot Dome, Watergate & other famous scandals.

“I’ve been watching & writing about #corruption for 50 years, & my head is still spinning,” said Michael Johnston, a professor emeritus at Colgate University & author of multiple books on corruption in the United States.

And #Trump hosted an exclusive dinner at his Virginia club for 220 investors in the $TRUMP #cryptocurrency that he started days before taking office in January. Access was openly #sold based on how much #money they chipped in — not to a campaign account but to a business that benefits Trump personally. [He also gave the top investors a White House tour on Friday]

Just last week, #Qatar handed over a luxury #jet meant for #Trump’s use not just in his official capacity but also for his [nonexistent]*presidential library* after he leaves office. Experts have valued plane, formally donated to the *Air Force*, at $200M, more than all of the foreign gifts bestowed on all previous American presidents combined.

31 years later, after dinner at Mar-a-Lago, #JeffBezos agreed to finance a promotional film about #MelaniaTrump that will reportedly put $28M directly in her pocket—280 times the Clinton lucre & in this case from a person with a vested interest in #policies set by her husband’s govt. Scandal? Furor? Washington moved on while barely taking notice.