Trump Media & Technology Group, the parent company of Truth Social, on Tuesday reported just $1 million in third quarter revenue and a $19 million net loss.
The big picture: Trump's presidential campaign didn't boost ad sales, as revenue was actually down a bit from the same period in 2023.
Shares of former President Trump's social media company rose sharply Tuesday morning and then plunged suddenly in the afternoon in a volatile session as investors awaited election results.
Why it matters: Trump Media & Technology Group, which owns Truth Social, has become something of a proxy for investors to bet on Trump himself.
The United States' largest crypto exchange has released parts of nearly two dozen "pause letters" sent from the FDIC to regulated financial firms, characterizing the letters as further evidence of an administration-wide effort to quell the industry.
Why it matters: The Biden administration has never made an explicit point of objection to the crypto industry, but enough evidence has piled up to suggest the government's been using its powers to stymie one specific new industry without making a clear argument to the public.
Stablecoins and regulatory structure have been the big focus for the crypto industry's legislative efforts, and three scenarios have emerged that provide the best chance for either one of them to pass before January.
Why it matters: The lame duck session of Congress — the period between the election and the swearing in of newly elected members — might not be lame at all for the blockchain industry.
Behind-the-scenes decision desks have come to define the modern political media mechanics of Election Night, which stretches well beyond a single day.
Why it matters: These desks' role has been complicated by the challenges of declaring a winner in swing states with tight margins and the growing popularity of mail-in or early voting.
Bowery, a vertical farming startup focused on producing lettuce and other leafy greens, is shutting down, despite having raised more than $700 million in venture capital.
The big picture: This is just the latest vertical farming company to crater, following bankruptcies of AeroFarms and AppHarvest, as consumers proved unwilling to pay high premiums for "cleaner" produce.
Why it matters: By seeking a hand in every layer of its supply chain, GM aims to minimize the substantial risks — financial, technical and geopolitical — associated with the switch away from gasoline.
Former President Trump's chances of recapturing the White House fell sharply over the weekend across prediction markets like Polymarket and Kalshi. Then they climbed back up.
Why it matters: Volatility like this underlines why using betting markets to gauge the status of the presidential race is tricky. And yet, prediction and betting markets have emerged this year as a powerful force in shaping public opinion — and campaign messaging — about the horse race.
Why it matters: The economic policy fallout from this election — huge tariffs? higher tax rates? — appears more high stakes for corporate America than in the recent past, at least if the elevated election talk is any guide.
Leading AI companies such as OpenAI, Google and Meta rely more on content from premium publishers to train their large language models (LLMs) than they publicly admit, according to new research from executives at Ziff Davis, one of the largest publicly-traded digital media companies.
Why it matters: Publishers believe that the more they can show that their high-end content has contributed to training LLMs, the more leverage they will have in seeking copyright protection and compensation for their material in the AI era.
Why it matters: It's technically illegal to offer freebies in exchange for votes and businesses typically get around this by offering the deals to all.
The vast majority of America's largest newspapers by circulation aren't endorsing a presidential candidate this year, marking a stark departure from previous election cycles.
Why it matters: Endorsements have fallen off significantly in the past two election cycles as papers grapple with growing polarization and fears of political retribution.
Boeing's strike that began in mid-September "has ended" after 59% of workers voted on Monday night to ratify a new contract, the union announced at midnight.
Election polling locations are open Tuesday and so are most businesses since the day is not a federal holiday.
Why it matters: No federal law mandates that employers give employees time off to vote and fewer than half of U.S. states require employers to provide paid time off to vote.
Joe Rogan endorsed former President Trump for president on Monday evening.
Why it matters: The podcaster's endorsement of the GOP presidential nominee on the eve of Election Day could be a major boost for Trump as "The Joe Rogan Experience" is particularly popular among young men — a key voter demographic for the Republican.
Elon Musk's attorney argued in a Philadelphia courtroom Monday that the tech mogul's $1 million-a-day sweepstakes winners are not chosen at random but instead are earning paymentforacting as a spokesperson, multipleoutletsreported.
Why it matters: Musk, one of former President Trump's biggest backers, found himself in hot — but murky — legal waters over the attention-grabbing giveaway after Philadelphia District Attorney Larry Krasner (D) filed a lawsuit over the contest. But Judge Angelo Foglietta reportedly denied the request.
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