Newsmax reported on the company's planned crypto treasury:
Newsmax also plans to add official Trump Coin to its strategic crypto reserve. The popular meme coin was launched earlier this year by President Trump and the circulating coin value exceeds $1.2 billion today with a total coin market value of around $6 billion, according to figures from Coinbase."Bitcoin is fast becoming the gold standard of cryptocurrency, and we believe it would be an important company marker to add this asset to our company reserves," Newsmax CEO Christopher Ruddy said."We are also excited to add Trump Coin to our cryptocurrency plan, as we believe the coin's value should track the success of the Trump presidency, which so far has been impressive," Ruddy continued.After making such a purchase, Newsmax expects to be the first NYSE company to purchase Trump Coin.
NewsMax's Board might not be the sharpest given the poor performance of the Trump meme coin after its initial pop (to $46). Trump's cryptobro dinner ran the meme coin from $7.50 to $15 in May but its value has gone down since. That decline occurred with Trump II, the digital Caligula, in the White House.
Newsmax has a 10 percent owner that is a Qatari Sultan with a London based investment firm. Middle East monarchs are used to buying influence and Trump II is used to selling it.
President Donald Trump and his family are taking part in self-dealing cryptocurrency schemes and right-wing media are mostly fine with it.Fine might not be the correct word for Newsmax pumping money into "DT Marks DEFI LLC, an entity affiliated with Donald J Trump and certain of his family members."
It's a match made in a very special hellhole, the darkest black where ethical light can only be absorbed and not reflected.
Update: There is no pop in Trump meme coin after the Newsmax announcement. The coin is currently trading at $5.90.
Update 10-17-25: Trump meme-coin trades at $5.76 after going as low as $5.64 overnight. Trump II recently said "Newsmax is doing a very fine job." Yes, buying a declining asset so an entity affiliated with Donald J. Trump can make even more than the $1 billion in crypto profits cited by Eric recently.
