Trump Media Sells More Bitcoin at a Loss

Trump Media has sold another 2,628 Bitcoin to bring its total sales to 7,281 coins. The company originally purchased its treasury at an average price of over 118,000 dollars per coin. Recent sales have occurred at a much lower average price, resulting in a total realized and unrealized loss of roughly 555 million dollars for the firm.

While the company reduces its Bitcoin exposure, it has launched a new product called Truth API. This service allows institutional traders to pay up to 100,000 dollars per month for early access to market moving posts on the Truth Social platform. The company aims to boost revenue through this data licensing model as it works to improve its financial standing.

The business move has drawn criticism from lawmakers. Senators Elizabeth Warren and Adam Schiff recently called for an SEC investigation into the API product. They argue that the service may violate securities laws by giving wealthy traders an unfair advantage based on the President's social media activity.

Investors are now watching to see how the SEC handles these requests and how the remaining Bitcoin, much of which is currently tied up in restricted notes, will impact the company's balance sheet through 2028.