Trump Media and Technology Group, the parent company of Truth Social, said on Aug. 1 it ended the second quarter with $3.1 billion in financial assets and posted its first quarter of positive operating cash flow as the company ramps up its cryptocurrency strategy.
The company, which went public last year, reported cash flow from operations of $2.3 million for the quarter ended June 30, according to a Securities and Exchange Commission (SEC) filing disclosed Friday.
Trump Media also revealed that it has built one of the largest bitcoin treasuries of any public firm, holding about $2 billion in bitcoin and related securities following a $2.4 billion private placement in July backed by roughly 50 institutional investors, per a press release….