by Coinstrooper Crypto Articles
Quick Take
  • Trump Media has sold another 2,628 Bitcoin (BTC) worth roughly $165 million, deepening losses on a treasury it assembled near record prices.
  • The disposal arrived as the company switched on Truth API, a paid feed selling institutions faster access to President Donald Trump’s Truth Social posts.
  • Lookonchain, an on-chain analytics account that tracks large wallet flows, puts total sales at 7,281 BTC.
  • Trump Media originally bought 11,542 BTC for about $1.37 billion, averaging $118,522 a coin.

What Happened

Warren and Schiff Want an SEC Investigation

“This appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets,” Warren and Schiff, in their letter to the SEC.

Market Context

Trump Media has sold another 2,628 Bitcoin (BTC) worth roughly $165 million, deepening losses on a treasury it assembled near record prices.

The company’s own quarterly filing supports that entry price. It listed 9,542.16 BTC against a $1.13 billion cost basis on March 31, plus 2,000 BTC pledged against options.

A $243.96 million mark-to-market hit on digital assets helped drive a $405.9 million quarterly net loss, the same math that has soured corporate Bitcoin bets elsewhere.

One subscription at list price would generate $1.2 million a year.

“Markets already move on Truth Social posts… Truth API delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths,” Kevin McGurn, Interim Chief Executive Officer of Trump Media, in the company’s release.

The senators put Trump’s stake at about 41%. They cited his June 10 post praising Citigroup by ticker at the opening bell, after which the bank outperformed a falling market.

Why It Matters

What remains is not free to move. The same filing shows 4,260.73 BTC pledged against convertible notes, with restrictions lifting no later than maturity on May 29, 2028. That block closely matches the balance Lookonchain implies is left.

Details

The disposal arrived as the company switched on Truth API, a paid feed selling institutions faster access to President Donald Trump’s Truth Social posts.

A Treasury Bought High, Sold Low, and Locked the Rest

Lookonchain, an on-chain analytics account that tracks large wallet flows, puts total sales at 7,281 BTC.

Trump Media originally bought 11,542 BTC for about $1.37 billion, averaging $118,522 a coin.

Those exits have averaged $74,855, far below cost. Lookonchain estimates the combined realized and paper shortfall at roughly $555 million.

Meanwhile, Bitcoin trades near $63,471, roughly half its October 2025 record of $126,080.

Truth API Turns Presidential Posts Into Revenue

Truth API opened to institutional customers on August 1 as the company’s first data licensing product.

Reported pricing reaches $100,000 a month, falling to $60,000 under a three-year commitment.

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Scale explains the appeal. Trump Media booked $871,200 of revenue in the first quarter, up 6% from a year earlier.

The feed covers the 10 highest ranking Truth Social accounts and delivers posts in milliseconds.

Those posts already carry weight. In July, Trump’s statement that the memorandum of understanding with Iran had collapsed sent Bitcoin sharply lower within minutes.

Senators Elizabeth Warren and Adam Schiff wrote to Securities and Exchange Commission (SEC) Chair Paul Atkins on July 28.

They asked for an immediate probe into whether the product breaks securities law.