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Trump Media Reports Q2 Net Loss of $20 Million, Plans to Launch Utility Token and Digital Asset ETF
Summary: According to The Block, Trump Media, the parent company of Truth Social, reported a net loss of $20 million in Q2, leading to a 3.8% drop in stock price. Approximately $15 million of the loss was attributed to SPAC merger-related legal expenses. The company purchased $2 billion worth of Bitcoin in July, making it the ...
According to The Block, Trump Media, the parent company of Truth Social, reported a net loss of $20 million in Q2, leading to a 3.8% drop in stock price. Approximately $15 million of the loss was attributed to SPAC merger-related legal expenses. The company purchased $2 billion worth of Bitcoin in July, making it the fifth largest publicly traded holder of Bitcoin globally, and plans to launch utility tokens tied to Truth Social and Truth+. In addition, its digital asset ETF plan has been submitted to the SEC, with the review delayed until September 18th.
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Link: Trump Media Reports Q2 Net Loss of $20 Million, Plans to Launch Utility Token and Digital Asset ETF [Copy]
