ATLAS News · Markets
Foreign Policy Journal says Trump Media's profit came from a bitcoin rally, not its core business. Reuters and Bloomberg report a firm dollar and gold under pressure.
Foreign Policy Journal reports that Trump Media & Technology Group (DJT), valued at over $1 billion, posted a quarterly profit equal to roughly 36% of its entire market capitalization. The outlet says the company's core business did not drive that result.
The article attributes the profit to a bitcoin rally that masks losses in the media operations, and it points to dilution and debt as looming concerns for the company.
Separately, Reuters reports that the dollar rose to a 19-month high as bets on a Fed rate hike grew, while the yen wobbled. Reuters and Bloomberg also report that gold fell, with Bloomberg saying it held below $4,000 as the market looked ahead to a possible Fed hike.
Companies that hold cryptocurrency can see their reported earnings swing with the price of digital assets, which may differ from how their operating businesses perform.
The reports show how Trump Media's results may depend on bitcoin rather than its media business, while expectations of higher U.S. interest rates shape the wider market backdrop.
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
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