Trump Media’s Crypto Bet Fuels Massive $238M Quarterly Loss
Trump Media & Technology Group reported a $238 million net loss in the second quarter, up sharply from a $20 million loss a year earlier. Most of the loss came from non-cash charges, including more than $190 million in unrealized losses on digital assets, pledged digital assets, and equity securities. For the first half of 2026, digital asset-related losses totaled about $361 million, driven by unrealized crypto losses, pledged asset losses, reacquired pledged assets, and derecognized assets. Crypto holdings fell more than 33% to $598 million by June 30, including $558 million in Bitcoin and $41 million in Cronos. Despite the losses, quarterly revenue rose 89% to nearly $2 million, and total assets were $2 billion. The company said it is tightening its digital asset treasury strategy and expects legal expenses to drop after resolving legacy legal matters. It has also backed away from a planned Crypto.com-linked CRO treasury venture amid changing market conditions.
