Trump Media Posts $238M Quarterly Loss as Crypto Treasury Value Drops $361M
Trump Media reported a $238 million net loss for the quarter, according to CNBC and Cointelegraph.
CoinDesk reported the company’s bitcoin holdings have shrunk as crypto losses reached $361 million. The Block reported a $360.6 million unrealized loss on digital assets for the first half of the year, with directly held bitcoin and Cronos (CRO) valued at $597.7 million as of June 30.
CNBC reported the company has signed more than ten customer agreements for its Truth API service, which offers faster access to President Donald Trump’s posts.
Cointelegraph reported Trump Media plans to take a more disciplined approach to its crypto treasury and direct more resources toward its core media business following the loss.
Separately, a Bitcoin wallet dormant for more than 12 years moved 26.96 BTC, worth about $1.75 million, according to Decrypt.
Sources: Decrypt, CoinDesk, CNBC, Cointelegraph, The Block
This article is for information only and is not financial advice.
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