In brief
- Trump Media reported a $238 million second-quarter loss, up from $20 million a year earlier.
- Non-cash losses involving digital assets, pledged assets, and equities topped $190 million.
- Its Bitcoin and Cronos holdings lost more than 33% of their value during the first half.
Falling cryptocurrency prices took a heavy toll on Trump Media & Technology Group during the second quarter, saddling the Truth Social parent company with a $238 million net loss—a steep increase from the $20 million it lost a year earlier.
In its second-quarter earnings report, Trump Media said the “vast bulk” of the loss came from non-cash charges rather than money spent or assets sold. Those included more than $190 million in unrealized losses across digital assets, pledged digital assets, and equity securities.
“As part of management’s efforts to streamline TMTG’s strategic vision and focus resources on growth initiatives, the Company has substantially resolved its legacy legal matters,” Trump Media wrote, adding that it expects legal expenses to fall significantly, freeing up resources for growth.
The report did not disclose how much of that quarterly hit came from Bitcoin alone.
The damage extended across the first half of 2026. According to a June SEC filing, Trump Media recorded about $361 million in digital asset-related losses during the six months ended June 30.
That figure included more than $245 million in unrealized crypto losses and more than $7 million in unrealized losses on pledged assets. Another $56 million came from reacquiring pledged assets, while more than $52 million resulted from derecognizing assets.
Trump Media’s crypto holdings fell more than 33% to $598 million by June 30, including $558 million in Bitcoin and $41 million in Crypto.com’s native token Cronos. Quarterly revenue, however, rose 89% to nearly $2 million, while total assets stood at $2 billion.
The company said it is adopting a “more disciplined” digital asset treasury strategy to manage crypto volatility.
The news comes as Trump Media pulls back from parts of its crypto expansion.
Just last week, Trump Media abandoned plans for a Crypto.com-backed CRO treasury company and ended a broader digital asset agreement with the exchange. The companies cited market conditions and shifting business priorities.
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