Trump Media Flips to a $410 Million Quarterly Profit on Crypto Gains

Trump Media and Technology Group, the company behind Truth Social, posted net income of $409.7 million for the third quarter, a big turnaround from a $54.8 million loss a year earlier. Most of the improvement came from non cash realized and unrealized gains on digital assets, pledged digital assets and equity securities. Revenue was only $3 million, though that was up 205% from last year, mainly because Truth API subscriptions added $1.8 million.

Bitcoin Holdings and Yield Program

At the end of September the company held about 15,649 BTC. Roughly 11,385 of those coins were committed to its Bitcoin Yield Management Program, which is meant to earn returns on the holdings, according to CFO Phillip Juhan on the earnings call.

Truth API Customers and Growth

Trump Media launched Truth API in August, a paid real-time feed that gives institutional clients quicker access to posts from top Truth Social accounts, including President Donald Trump’s. Bloomberg, Susquehanna International Group and Jump Trading have reportedly signed up.

TAE Technologies Merger and DJT Stock

The all-stock merger with fusion power firm TAE Technologies, valued at more than $6 billion, is still expected to close in the fourth quarter, with each side owning about half of the combined company.