INSUBCONTINENT EXCLUSIVE:
Trump Media and Technology Group, the company that owns the Truth Social platform, said its $400-million share buyback program will not
authorized the repurchase of up to $400 million in common stock
said.The media group initially denied reports that it was planning to raise roughly $3 billion to invest in cryptocurrency, but later
confirmed a $2.5-billion capital funding to purchase Bitcoin
The filing showed the $2.3 billion for the Bitcoin investment came from the resale of 56 million shares and 29 million shares tied to
ReportTrump Media has also applied to launch a spot Bitcoin exchange-traded fund (ETF), which Truth Social separately filed to list and
trade shares of a dual ETF tied to Bitcoin and Ether (ETH)
The SEC has been approving listings of spot Bitcoin ETFs since January 2024 and spot Ether ETFs since May 2024.Trump has also proposed,
hold digital assets forfeited to the US government, but Trump advisers have suggested other ways of expanding the stockpile
The Trump Media announcement came the same day that California Senator Adam Schiff introduced legislation aimed at barring the US
president, First Family, and other public officials from issuing, sponsoring or endorsing digital assets
