Update
Trump Media Reports Profit from Bitcoin Gains
Trump Media & Technology Group, the parent company of Truth Social, reported a $409.7 million profit in its third-quarter financial results. The majority of the profit came from gains on its Bitcoin holdings, which increased from approximately $59,000 to $84,000 during the quarter. The company held around 15,649 Bitcoin, with 11,385 of those pledged to a Bitcoin Yield Management Program. Core revenue for the quarter was $3.0 million, up 205% year-over-year, driven by the launch of new products such as Truth API and Truth+, a streaming service. Despite the profit, core operations still reported a loss of $12.3 million.