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Trump Media & Technology Group Q2 Earnings Report: Raises Nearly $2.4 Billion for Bitcoin Treasury Strategy

19 hours ago

August 2nd - Lately, the Trump Media & Technology Group declared its Q2 financial report. The financial assets reached approximately $3.1 billion, consisting of cash, cash equivalents, restricted cash, trading securities, and short-term investments, witnessing a year-on-year growth of nearly 800%. The company successfully raised nearly $2.4 billion for its Bitcoin treasury strategy, enabling it to accumulate around $2 billion in Bitcoin and Bitcoin-related securities by July 2025, thereby becoming one of the publicly traded companies with the largest Bitcoin reserves. In Q2, the company achieved positive operating cash flow for the first time, with a cash flow from operating activities of $2.3 million. Additionally, the company continued to make progress in its Separately Managed Account (SMA) and Exchange-Traded Fund (ETF) plans, submitting multiple ETF registration statements in the second quarter and subsequent periods, such as the Truth Social Crypto Blue Chip ETF, Truth Social Bitcoin and Ethereum ETF, and Truth Social Bitcoin ETF.
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Ethereum Contract-Based Coin Top Holder Balance Drops Over 11% from Historical High

On August 3rd, based on Coinglass data, the total amount of Ethereum held in DeFi contracts is currently stated to be 13.7473 million ETH. This represents a 11.4% decrease compared to the previous all-time high range of 15.2971 million ETH on July 29th.

6 minutes ago

The Satoshi Nakamoto statue in Lugano, Switzerland, was stolen today. The statue was co-founded by Tether.

On August 3rd, as per BitcoinNews, the statue of Satoshi Nakamoto in Lugano, Switzerland, got stolen today. In October 2024 on the 25th, the city of Lugano in Switzerland unveiled a statue in Ciani Park (Villa Ciani) to pay tribute to the anonymous creator of Bitcoin, Satoshi Nakamoto. This event was organized by the Plan B initiative in cooperation with Tether and the city of Lugano. This statue was crafted by the Italian artist Valentina Picozzi and it took 18 months of research and 3 months to complete.

6 minutes ago

Communication platform Towns Protocol unveils Tokenomics: 57% of tokens allocated for airdrops, grants, and other community initiatives

On August 3rd, the communication platform Towns Protocol disclosed the tokenomics as follows: The total supply of the TOWNS token is 10 billion. More than 10% of the tokens are planned to be airdropped to early users, partners, and launch collaborators on August 5th. In a previous announcement, Binance Alpha will list Towns (TOWNS) on August 5th.

6 minutes ago

Debunked: Several Foreign Media Outlets Today Reported "China Again Bans Cryptocurrency Trading and Mining," Which May Be Misinformation

August 3rd. Today, numerous overseas media and KOLs, such as Kalshi, First Squawk, and The ETF Store President Nate Geraci, reported on the so-called "China Just Announced Officially Banning Cryptocurrency Trading and Mining" news. BlockBeats has obtained information from multiple sources that up to now, there has been no recent ban announced. In fact, as early as May 19, 2021, China had already completely prohibited cryptocurrency mining activities.

6 minutes ago

Some Altcoins Show Strong Rebound, CFX Surges Over 5% in Nearly 2 Hours

On August 3rd, according to HTX market data, several altcoins witnessed significant growth along with the market's rebound. These include: CFX surged by more than 5% in the past 2 hours and is currently trading at $0.2009; RSC achieved a 22.9% increase in the past 24 hours and is now trading at $0.6493; TROLL saw a 19.1% increase in the past 24 hours and is now trading at $0.08076.

6 minutes ago

Hong Kong Legislator: Stablecoins Have No Pump-and-Dump Opportunity, Regulations Reference Industry Practices in the US, Japan, and EU

August 3rd. Ted Hui, a member of the Hong Kong Legislative Council, stated in an interview that the core characteristic of a fiat-backed stablecoin is that it must be backed by highly liquid fiat reserves at a rate of 100%. Currently, the main function of a fiat-backed stablecoin is still international payments, and there is no chance for speculation. During the formulation of the "Stablecoin Regulations", references were made to the United States, Japan, and the EU's MiCA (Markets in Crypto-Assets) regulation, as well as Singapore's Payment Service Act (PSA). The legislation takes into account international circulation and demand and adheres to both international and national standards. Additionally, Hui also mentioned that Hong Kong's stablecoin should not compete for market share with existing products but should explore new markets. (Daily Economic News)

6 minutes ago

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