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The core business of Trump Media Group faces setbacks, as it shifts toward the cryptocurrency and financial services sectors.
ME News Report, April 23 (UTC+8), Donald Trump Media & Technology Group is significantly shifting its business focus from social media to areas such as cryptocurrency and financial services. Since Trump was re-elected in November 2024, the company’s stock price has fallen more than 60%, erasing over $6 billion in shareholder wealth. Recently, the company has experienced leadership turmoil, applied for a “Crypto Blue Chip ETF,” and plans to establish a large-scale Bitcoin reserve. Analysts believe that, amid sluggish growth in its core social media business, Trump Media & Technology Group is attempting to leverage the current favorable policy environment to promote cross-industry transformation, aiming to stabilize market confidence and retain investors. (Source: Foresight News)