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Trump Media Reports $410 Million Q3 Profit After Crypto Holdings Rebound
(5 hours ago) · 1 source · Summarized by CryptoBipto
Trump Media reported a $410 million profit in Q3, driven by gains in its cryptocurrency holdings. These same holdings had caused significant losses for the company in Q2. The reversal reflects the volatile nature of crypto assets on corporate balance sheets.
WHY IT MATTERS
When a company holds cryptocurrency on its books, it has to report the current value of those holdings each quarter, similar to how a stock portfolio goes up and down.
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SOURCES
- beincrypto.com
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Corporate Crypto HoldingsTrump MediaQuarterly EarningsCrypto Accounting