Newsmax has been keeping up the self-promotion over the past few months. For instance:
- Newsmax Launches on Hulu+ Live TV Today
- Newsmax’s N2 Channel Launches ‘News Now’
- Here’s How to Make Newsmax Your Google ‘Preferred Source’
- Newsmax Sees Strong 3rd Quarter: Broadcast Revenues Up 10 Percent, Affiliate Fees 22 Percent YOY
Newsmax’s boss gushed in an Oct. 30 article:
Newsmax CEO Chris Ruddy took to the floor of the New York Stock Exchange to say the company’s momentum since going public has been “remarkable.”
He said that with major distribution deals, strong audience growth, and big plans for streaming and digital expansion, the company’s outlook for growth was more robust than ever.
Ruddy told “NYSE Live” that Newsmax‘s strength is coming from across almost every business division of the company, in a live interview.
“We’re seeing growth in almost every segment of the company,” he said. “Cable TV, streaming, digital platform, print publications, Newsmax Plus service.
“Everything’s up pretty much this year.”
Newsmax merely republished a press release for an Oct. 16 post:
Newsmax Inc. (NYSE:NMAX) today announced that the company’s board of directors has authorized a strategic purchase plan of up to $5 million to purchase bitcoin and Official Trump Coin over the next 12 months, subject to market conditions.
Newsmax expects to join more than 100 public companies that hold bitcoin or other cryptocurrencies on their balance sheets. According to BitcoinTreasuries data, public company-held coin represents over 4.7% of total bitcoin in circulation.
Newsmax also plans to add Official Trump Coin to its strategic crypto reserve. The popular meme coin was launched earlier this year by President Donald 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.
[…]“We are also excited to add Official 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 Official Trump Coin.
The press release also states that “Newsmax has established comprehensive protocols for digital asset custody and management, partnering with leading institutional cryptocurrency services providers to ensure secure storage and handling of its cryptocurrency reserves.” Why don’t we feel reassured by this?