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Crypto

Trump Media Loses $238M as Crypto Downturn Bites

Guavy AI Editorial Team
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Trump Media and Technology Group, a social media company founded by former US President Donald Trump, has reported significant losses in its second-quarter financials. The company attributed the loss of $238 million to its expansion into various businesses outside of traditional media, including cryptocurrency.

The financial woes come as the crypto market experiences a downturn. While not specifically stated which cryptocurrencies are involved, this is likely contributing to Trump Media's struggles.

Details on how much was invested in cryptocurrency and what specific assets were impacted were not provided by the company.

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