Trump Media, the parent company of Donald Trump’s Truth Social, unexpectedly reported a net profit of $409.7 million, or approximately IDR 7.42 trillion, in Q3 2026—compared to a net loss of $54.8 million during the same period last year. But don’t rush to conclude that Trump Media’s business is booming. The majority of its profit came from investment gains and digital assets totaling $496.1 million, significantly driven by Bitcoin’s price surge, which rose approximately 42% during the quarter. Interestingly, the company’s actual revenue was only $3 million, or about IDR 54.3 billion, and its Adjusted EBITDA remained negative at $12.3 million. Trump Media also holds 15,649 BTC, of which 11,385 BTC are pledged in a Bitcoin yield management program. So while the trillions in profit (in USD or IDR) are indeed reflected in the financial statements, the source is primarily from appreciation in investment assets—not from substantial operational revenue generated by its media business. #Crypto #TruthSocial #CryptoMarket
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