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Trump Media reported a loss of $ 20 million per Q2 despite its Bitcoins cash register of $ 2, which raised questions about its crypt gain. Meanwhile, they push forward with digital businesses such as Truth.i and tokenized subscriptions.
Trump Media & Technology Group [DJT]a company for the truth of a social and voice supporter and Bitcoin [BTC] Strategy of the Treasury, recorded that its shares dropped by almost 4% 4th August to $ 16.92 afterwards report A net loss of $ 20 million per Q2.
Source: Google Finance
This decline seems to be largely driven by $ 15 million in legal fees linked to its extended SPAC merger.
It seems that legal entanglement, including court disputes against his sponsor SPAC and former social co -founders of truth, strongly weighs sentiment to investors.
Bitcoin billions, but no tesla bounce
What makes the performance of Q2 Trump Media even more surprising is his aggressive bitcoin strategy, especially as unlike companies like Tesla, which reported Profit $ 284 million from BTC Holdings in the same quarter.
Tesla’s strong income, including a net income of $ 1.2 billion, reflects a wider market reflection and new accounting rules allowing companies to report unrealized Krypto profits.
Although Trump is Media, although he holds the fifth largest bitcoin treasury among public companies and increases its assets to $ 3.1 billion, she has not seen similar benefits.
Utility token plans
With the market ceiling of $ 4.7 billion, slow shares of Trump Media raised questions about unrealized crypto benefits.
Trump Media seems to deepen its ambitions of digital assets as revealed in a recent SEC submission. He outlined the upcoming company token linked to its Patriot subscription service.
The program will reward the user’s “gems” that will eventually be converted to a token usable across Truth Social and its streaming platform, Truth+. But it is still in beta mode.
Although it is not clear whether this token will be based on blockchain, Trump Media assumes this as a subscription method and other future services within its ecosystem.
ETF delayed, Washington enters
The company reaffirmed its intention to launch the digital asset ETF even if SEC has delayed His decision on the proposal until 18 September to provide more time to check and feedback to the public.
In fact in alafter Democratic Senator Elizabeth Warren expressed SEC chairman Paul Atkins according to a copy of the reviewed agency Reuters, where she said,
“All SECs and events including (Trump Media & Technology Group) and the financial interests of President Trump should be carefully successful to ensure that they are without disproportionate political intervention and the influence of the President and his administration.”
With bold investment in bitcoins now a total around $ 2 billion and the expansion set of businesses including Truth+, Truth.i and the planned ETF through a partnership with Yorkville America signals a strong commitment to digital innovation.
