Trump Media Sells More Bitcoin and Launches Truth API
Trump Media is still trimming its Bitcoin holdings even as it rolls out Truth API for institutional clients. The launch is also drawing SEC scrutiny after questions from Warren and Schiff.
Key Takeaways
- Trump Media sold another 2,628 Bitcoin, worth about $165 million, adding to the losses on its BTC holdings.
- The company launched Truth API, a paid data service for institutional clients with pricing up to $100,000 per month.
- Senators Warren and Schiff asked the SEC to investigate possible securities law violations and market manipulation.
Trump Media has sold another 2,628 Bitcoin, worth about $165 million (€144 million), while at the same time launching Truth API, a paid data service aimed at institutional clients. The latest sale adds to the losses on the Bitcoin position the company accumulated at much higher prices, while the new product is designed to generate additional revenue from Truth Social.
Bought High, Sold Low
According to on-chain analyst Lookonchain, the company has now sold a total of 7,281 BTC. Trump Media first bought 11,542 BTC for about $1.37 billion (€1.2 billion), paying an average of $118,522 (€103,200) per coin. In its quarterly filing, it still reported 9,542.16 BTC on the balance sheet as of March 31, plus 2,000 BTC held as collateral for options.
Those sales came in well below the company’s average entry price. Lookonchain puts the combined realized and unrealized loss at roughly $555 million (€483 million). The same filing also showed 4,260.73 BTC pledged for convertible notes, with those restrictions running until at least May 29, 2028. In other words, a sizable share of the remaining stack cannot be freely sold.
Truth API Is Meant to Bring in Money
Truth API went live on August 1 for institutional clients and is Trump Media’s first data licensing product. The service offers faster access to posts on Truth Social, with pricing as high as $100,000 (€87,100) per month, or $60,000 (€52,200) with a three-year contract. The company posted $871,200 (€758,600) in revenue in the first quarter, up 6 percent from a year earlier, so even a single top-tier subscription would quickly translate into $1.2 million (€1 million) in annual revenue.
Kevin McGurn, interim CEO of Trump Media, said markets are already reacting to Truth Social posts and that Truth API gives customers a direct, licensed, real-time feed of the most market-sensitive Truths. The feed includes the 10 highest-ranked Truth Social accounts and delivers posts in milliseconds.
Political Pressure on the SEC
The rollout landed as pressure in Washington intensified. Senators Elizabeth Warren and Adam Schiff asked SEC Chair Paul Atkins on July 28 to launch an immediate investigation into whether the product breaks securities laws. They described it as a possible abuse of the presidency for Trump’s own benefit and raised concerns about market manipulation and investor protection.
For European crypto watchers, the bigger picture is that this story ties together two separate trends: a publicly traded media company using Bitcoin as a treasury asset, and a paid data product built around politically sensitive, market-moving information. That makes the issue bigger than a simple Bitcoin sale, because regulation, data access, and the SEC’s role are all part of the story.
