Latest news with #DJT
Yahoo
4 days ago
- Business
- Yahoo
Trump Media Reveals $2 Billion Bitcoin Treasury as DJT Shares Pop
Trump Media and Technology Group (DJT, Financials) disclosed Monday that it now holds approximately $2 billion in bitcoin and related digital assets a move that pushes cryptocurrency to the center of President Donald Trump's growing net worth. Warning! GuruFocus has detected 4 Warning Signs with DJT. The bitcoin position now makes up roughly two-thirds of Trump Media's total liquid assets, the company said in a statement. Shares of the company, which trades under Trump's initials, rose as much as 9% at the open before settling up about 4% by mid-afternoon. The update follows a series of crypto-focused initiatives by the president, including the launch of a strategic bitcoin reserve, the appointment of a federal crypto czar, and the recent signing of the GENIUS Act, which sets a national framework for stablecoin regulation. CEO Devin Nunes said Monday that the company is rigorously implementing its digital asset strategy. Trump Media intends to use its bitcoin holdings to protect against potential banking discrimination and integrate with a planned utility token across the Truth Social platform. Trump Media has transformed itself into a financial services and cryptocurrency firm since going public last year through a SPAC merger. Beyond bitcoin, its portfolio includes ETF partnerships, a decentralized finance venture called World Liberty Financial, and the Trump-branded meme coin $TRUMP. Trump's stake in DJT is worth nearly $2.3 billion, with the assets held in a revocable trust managed by his son, Donald Trump Jr. Critics have raised concerns about potential conflicts of interest, but Trump's spokespeople say the trust arrangement keeps the president at arm's length from daily business decisions. The company's announcement came days after bitcoin reached a record high above $120,000, lifted by anticipation of further U.S. crypto legislation and institutional adoption. This article first appeared on GuruFocus. Sign in to access your portfolio
Time of India
5 days ago
- Business
- Time of India
Trump claims he's not after Musk's companies as EV subsidies disappear
US President Donald Trump has rejected growing speculation that he's targeting Elon Musk 's companies out of political spite, denying any intention to strip them of government support. 'Everyone is stating that I will destroy Elon's companies by taking away some, if not all, of the large scale subsidies he receives from the US Government ,' Trump said on Truth Social. 'This is not so! I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!' He continued, 'The better they do, the better the USA does, and that's good for all of us. We are setting records every day, and I want to keep it that way!' His comments followed renewed media attention on the growing rift between the two, sparked by Musk 's opposition to a key White House economic bill. Fallout from the 'One Big Beautiful Bill' Tensions escalated after Musk publicly criticised Trump's flagship tax and spending legislation, formally known as the 'One Big Beautiful Bill Act' (OBBBA). The bill, which came into effect on 4 July, scaled back several clean energy incentives and lifted penalties on carmakers that failed to meet fuel efficiency standards. Musk, who had once chaired Trump's Department of Government Efficiency, openly broke ranks. In response, Trump reportedly considered reviewing and potentially cutting government contracts with Musk's companies. This shift marked a dramatic change in tone. Musk had previously donated heavily to Trump's re-election effort and played a key advisory role within his administration. Tesla stock dips after grim forecast Tesla's financial outlook has added fuel to the fire. On Wednesday 24 July, the company warned of difficult months ahead. Speaking during the second-quarter earnings call, Musk said, 'We probably could have a few rough quarters.' The warning came as Tesla posted disappointing revenue numbers. Its stock dropped by 8.2 percent in New York trading that day, continuing a broader 24 percent decline for the year. Tesla Chief Financial Officer Vaibhav Taneja added more detail on the company's earnings call. He said the OBBBA has 'certain adverse impacts' on Tesla's energy business, especially in residential storage. He warned of a dip in both demand and profit as consumer tax credits expired early. Taneja also revealed that new tariffs had already raised costs by around 300 million dollars in the second quarter alone, with further increases expected later this year. In a regulatory filing, Tesla directly referenced the impact of the new law, stating, 'The loss of previously available tax credits and carbon offset mechanisms may further negatively impact our financial results.' It also warned that OBBBA provisions 'could affect battery cell expenses and impact costs for our consumers, negatively impacting demand.' Musk rejects claims of relying on subsidies Responding to Trump's remarks, Musk pushed back strongly. On Thursday, he wrote on X, 'The 'subsidies' he's talking about simply do not exist. DJT has already removed or put an expiry date on all sustainable energy support while leaving massive oil & gas subsidies untouched.' Musk's frustration reflects a broader shift in US federal support for clean energy. Since 2015, Tesla has made over 12 billion dollars from regulatory credit sales, according to FedScout. In the most recent quarter alone, it earned 439 million dollars from these credits, which are part of a system that allows automakers to buy environmental offsets. These incentives have been a key source of revenue, especially as Tesla ramps up investments in autonomous vehicles and next-generation battery tech. Strained ties beyond policy The breakdown between Trump and Musk isn't just about legislation. It turned personal. At the height of the feud, Musk posted and later deleted a claim that Trump's name appeared in files related to Jeffrey Epstein, the disgraced financier and sex offender. The post sparked outrage within Trump's circle and among his supporters. The situation escalated further after The Wall Street Journal reported that Attorney General Pam Bondi had told the president his name was among those in the Epstein files, alongside 'many other high-profile figures.' A Republican-led House committee has now subpoenaed Ghislaine Maxwell, Epstein's convicted accomplice, to testify next month. Trump's team has dismissed the Epstein allegations outright. 'This is nothing more than a continuation of the fake news stories concocted by the Democrats and the liberal media,' White House Communications Director Steven Cheung said. SpaceX, xAI also under scrutiny While Tesla grabs headlines, Musk's other ventures haven't been spared. SpaceX, his aerospace firm, has secured more than 22 billion dollars in US government contracts since 2008. These include key deals with NASA, the Air Force, and Space Force. Following the fallout, the Trump administration ordered a review of SpaceX's contracts. Most were deemed essential and allowed to continue. Despite a brief threat from Musk to pull the Dragon spacecraft used by NASA for space station missions, operations resumed. Musk later clarified, 'SpaceX won the NASA contracts by doing a better job for less money.' Meanwhile, his AI startup xAI is also drawing government attention. Earlier this month, the Pentagon announced that xAI and three other firms had been awarded contracts worth up to 200 million dollars each. But White House Press Secretary Karoline Leavitt indicated that the administration is hesitant about federal agencies collaborating further with Musk's AI projects. Trump and Musk made some effort to dial down hostilities after their public clashes, but the damage is done. Musk's businesses are now navigating policy shifts, rising costs, and political risk, all while investors grow nervous. The relationship between the billionaire entrepreneur and the president he once backed now appears beyond repair. And with both eyeing future influence — one in the tech sphere, the other in the political arena — this uneasy standoff may still have more chapters to come.
Economic Times
5 days ago
- Business
- Economic Times
Trump claims he's not after Musk's companies as EV subsidies disappear
US President Donald Trump has rejected growing speculation that he's targeting Elon Musk's companies out of political spite, denying any intention to strip them of government support. 'Everyone is stating that I will destroy Elon's companies by taking away some, if not all, of the large scale subsidies he receives from the US Government,' Trump said on Truth Social. 'This is not so! I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!' He continued, 'The better they do, the better the USA does, and that's good for all of us. We are setting records every day, and I want to keep it that way!' His comments followed renewed media attention on the growing rift between the two, sparked by Musk's opposition to a key White House economic bill. Tensions escalated after Musk publicly criticised Trump's flagship tax and spending legislation, formally known as the 'One Big Beautiful Bill Act' (OBBBA). The bill, which came into effect on 4 July, scaled back several clean energy incentives and lifted penalties on carmakers that failed to meet fuel efficiency standards. Musk, who had once chaired Trump's Department of Government Efficiency, openly broke ranks. In response, Trump reportedly considered reviewing and potentially cutting government contracts with Musk's shift marked a dramatic change in tone. Musk had previously donated heavily to Trump's re-election effort and played a key advisory role within his financial outlook has added fuel to the fire. On Wednesday 24 July, the company warned of difficult months ahead. Speaking during the second-quarter earnings call, Musk said, 'We probably could have a few rough quarters.'The warning came as Tesla posted disappointing revenue numbers. Its stock dropped by 8.2 percent in New York trading that day, continuing a broader 24 percent decline for the year. Tesla Chief Financial Officer Vaibhav Taneja added more detail on the company's earnings call. He said the OBBBA has 'certain adverse impacts' on Tesla's energy business, especially in residential storage. He warned of a dip in both demand and profit as consumer tax credits expired early. Taneja also revealed that new tariffs had already raised costs by around 300 million dollars in the second quarter alone, with further increases expected later this a regulatory filing, Tesla directly referenced the impact of the new law, stating, 'The loss of previously available tax credits and carbon offset mechanisms may further negatively impact our financial results.' It also warned that OBBBA provisions 'could affect battery cell expenses and impact costs for our consumers, negatively impacting demand.'Responding to Trump's remarks, Musk pushed back strongly. On Thursday, he wrote on X, 'The 'subsidies' he's talking about simply do not exist. DJT has already removed or put an expiry date on all sustainable energy support while leaving massive oil & gas subsidies untouched.'Musk's frustration reflects a broader shift in US federal support for clean energy. Since 2015, Tesla has made over 12 billion dollars from regulatory credit sales, according to FedScout. In the most recent quarter alone, it earned 439 million dollars from these credits, which are part of a system that allows automakers to buy environmental incentives have been a key source of revenue, especially as Tesla ramps up investments in autonomous vehicles and next-generation battery breakdown between Trump and Musk isn't just about legislation. It turned personal. At the height of the feud, Musk posted and later deleted a claim that Trump's name appeared in files related to Jeffrey Epstein, the disgraced financier and sex offender. The post sparked outrage within Trump's circle and among his supporters. The situation escalated further after The Wall Street Journal reported that Attorney General Pam Bondi had told the president his name was among those in the Epstein files, alongside 'many other high-profile figures.' A Republican-led House committee has now subpoenaed Ghislaine Maxwell, Epstein's convicted accomplice, to testify next month. Trump's team has dismissed the Epstein allegations outright. 'This is nothing more than a continuation of the fake news stories concocted by the Democrats and the liberal media,' White House Communications Director Steven Cheung said. While Tesla grabs headlines, Musk's other ventures haven't been spared. SpaceX, his aerospace firm, has secured more than 22 billion dollars in US government contracts since 2008. These include key deals with NASA, the Air Force, and Space the fallout, the Trump administration ordered a review of SpaceX's contracts. Most were deemed essential and allowed to a brief threat from Musk to pull the Dragon spacecraft used by NASA for space station missions, operations resumed. Musk later clarified, 'SpaceX won the NASA contracts by doing a better job for less money.' Meanwhile, his AI startup xAI is also drawing government attention. Earlier this month, the Pentagon announced that xAI and three other firms had been awarded contracts worth up to 200 million dollars each. But White House Press Secretary Karoline Leavitt indicated that the administration is hesitant about federal agencies collaborating further with Musk's AI projects. Trump and Musk made some effort to dial down hostilities after their public clashes, but the damage is done. Musk's businesses are now navigating policy shifts, rising costs, and political risk, all while investors grow relationship between the billionaire entrepreneur and the president he once backed now appears beyond repair. And with both eyeing future influence — one in the tech sphere, the other in the political arena — this uneasy standoff may still have more chapters to come.
Yahoo
6 days ago
- Entertainment
- Yahoo
The late-night host has ramped up his criticism of Trump over his Epstein connections.
Stephen Colbert did not hold back on Donald Trump in a searing monologue where he unearthed sordid rumors of the former president's manhood. While reveling in the latest Wall Street Journal bombshell regarding the Epstein files and Trump's knowledge of the inclusion of his name, Colbert highlighted a list of apparent nicknames for the former president that he jokingly claimed were also in the files. One in particular, however, stood out: 'Micropenis DJT.' 'But he [Trump] said he hardly knew the guy?!' Colbert joked on Wednesday.
Yahoo
6 days ago
- Business
- Yahoo
Trump Media Now Boasts $2 Billion of Bitcoin. How Should You Play DJT Stock Here?
Trump Media & Technology Group (DJT) shares surged more than 3% on Monday after the company revealed that it has accumulated $2 billion in Bitcoin (BTCUSD) and Bitcoin-related securities, representing two-thirds of its total $3 billion in liquid assets. The cryptocurrency strategy marks a pivot for the Truth Social parent company, which has allocated an additional $300 million to an options acquisition strategy for Bitcoin-related securities. Management statements indicate that DJT plans to continue accumulating Bitcoin and may convert options to spot Bitcoin based on market conditions. More News from Barchart Nvidia Stock Warning: This NVDA Challenger Just Scored a Major Customer Warren Buffett Has $347.7 Billion in Cash Because Growing an 'Empire' Just to Grow Makes 'the Citizenry Poorer' Dear Microsoft Stock Fans, Mark Your Calendars for July 30 Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. 'We're rigorously implementing our publicly announced strategy and fulfilling our Bitcoin treasury plan,' CEO Devin Nunes announced, citing financial freedom and protection against institutional discrimination as key motivations. DJT also teased plans for a utility token across the Truth Social ecosystem. DJT now functions as a Bitcoin proxy play, similar to MicroStrategy (MSTR) but with added social media exposure. The massive crypto allocation creates volatility tied to Bitcoin's price movements, offering both substantial upside potential and downside risk. Bulls should consider DJT's first-mover advantage in combining social media with a crypto treasury strategy, especially given company namesake President Donald Trump's pro-crypto stance. However, bears must weigh the risk of concentration in having two-thirds of their assets in volatile digital currencies. With Bitcoin recently hitting new highs and Trump's political influence benefiting crypto adoption, with the president recently signing the Genius Act into law, DJT could attract momentum traders. Conservative investors should carefully consider position sizing, given the inherent volatility of both cryptocurrency and meme stock dynamics. Trump Media Expands Its Product Portfolio Earlier this month, Trump Media & Technology announced the successful global launch of its Truth+ streaming platform, marking an expansion beyond its core Truth Social social media business. The platform is now available worldwide across iOS, Android, web, and connected TV devices, including Apple TV (AAPL), Android TV, Amazon Fire (AMZN), and Roku (ROKU), with LG and Samsung apps pending approval. The flagship addition is Newsmax's (NMAX) international channel availability, supporting the network's global expansion efforts. Nunes emphasized DJT's mission to 'challenge the woke news monolith with hard-hitting, non-woke reporting and commentary,' positioning Truth+ as an alternative to mainstream streaming services. Simultaneously, Trump Media filed trademarks for 'Truth Social AI' and 'Truth Social AI Search,' signaling plans to integrate artificial intelligence directly into the Truth Social platform. Nunes described AI integration as 'a big push forward' to develop Truth Social as a 'one-stop-shop for reliable information, non-woke news, and entertainment.' Most notably, DJT filed an initial SEC registration statement for the Truth Social Bitcoin and Ethereum ETF, which would hold 75% Bitcoin and 25% Ether (ETHUSD). will serve as the exclusive custodian and execution agent, with shares planned for listing on the NYSE Arca Exchange upon regulatory approval. These developments represent Trump Media's ambitious diversification strategy, expanding from social media into streaming, AI, and cryptocurrency ETFs. Investors should note that despite the recent business updates, analysts tracked by Barchart do not provide ratings or price targets on DJT stock. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
