Trump Media has sold another 2,628 Bitcoin worth roughly $165 million, deepening losses on a treasury it built near record prices.
The sale landed as the company launched Truth API, a paid feed selling institutions faster access to President Donald Trump’s Truth Social posts.
A treasury bought high and sold low
Lookonchain, an on-chain analytics account tracking 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, with Lookonchain estimating the combined realized and paper shortfall at roughly $555 million.
The company’s quarterly filing showed 9,542.16 BTC against a $1.13 billion cost basis on March 31, plus 2,000 BTC pledged against options.
What remains is not free to move. The filing lists 4,260.73 BTC pledged against convertible notes, with restrictions lifting no later than maturity on May 29, 2028.
Bitcoin now trades near $63,471, roughly half its October 2025 record of $126,080. A $243.96 million mark-to-market hit helped drive a $405.9 million quarterly net loss.
Truth API turns posts into revenue
Truth API opened to institutional customers on August 1, with pricing reaching $100,000 a month, falling to $60,000 under a three-year commitment.
The scale explains the appeal. Trump Media booked just $871,200 of revenue in the first quarter, meaning one subscription at list price would generate $1.2 million a year.
Kevin McGurn, Interim CEO of Trump Media, said in the company’s release:
“Markets already move on Truth Social posts… Truth API delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths.”
The feed covers the 10 highest-ranking Truth Social accounts and delivers posts in milliseconds. In July, Trump’s statement that a memorandum of understanding with Iran had collapsed sent Bitcoin sharply lower within minutes.
Warren and Schiff seek a probe
Senators Elizabeth Warren and Adam Schiff wrote to SEC Chair Paul Atkins on July 28, asking for an immediate probe into whether the product breaks securities law.
Warren and Schiff wrote in their letter:
“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.”
The senators put Trump’s stake at about 41%, citing his June 10 post praising Citigroup by ticker at the opening bell, after which the bank outperformed a falling market.
