Trump Media Unloads More Bitcoin at Losses Exceeding $555M
Trump Media has continued to sell off its Bitcoin holdings, with the latest sale of 2,628 BTC at a significant loss. The company originally purchased 11,542 BTC for approximately $1.37 billion, averaging around $118,522 per coin. However, the recent sales have averaged just $74,855 per coin, resulting in a combined realized and paper shortfall of roughly $555 million.
The sale comes as the company launched its Truth API product, which provides institutional customers with faster access to President Donald Trump's Truth Social posts. The feed covers the 10 highest-ranking Truth Social accounts and delivers posts in milliseconds, with pricing reaching up to $100,000 per month or $60,000 under a three-year commitment.
Senators Elizabeth Warren and Adam Schiff have called for an immediate probe into whether the product breaks securities law, citing concerns about the President's use of his office for personal benefit. The senators put Trump's stake at around 41%, noting that he praised Citigroup by ticker on June 10 after which the bank outperformed a falling market.