Newsmax to Start Crypto Reserve Including Bitcoin, Trump Coin

Dow Jones

Oct 17

By Kelly Cloonan

Newsmax plans to start a cryptocurrency reserve that will include bitcoin and a meme coin launched by President Trump.

The news outlet operator said Thursday it plans to purchase up to $5 million in bitcoin and Trump Coin over the next 12 months.

Trump Coin's value "should track the success of the Trump presidency, which so far has been impressive," Chief Executive Christopher Ruddy said.

The company expects the purchase will make it the first company listed on the New York Stock Exchange to purchase Trump Coin.

Newsmax said it expects to make its first tranche of cryptocurrency purchases in the near future, and additional cryptocurrency acquisitions will be evaluated based on market conditions.

Shares rose 4.1% to $11.27 in after-hours trading.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

October 16, 2025 17:46 ET (21:46 GMT)

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