Trump Media Posts Record Crypto Loss Amid Market Shifts

Trump Media & Technology Group reported a significant loss of $360 million on its cryptocurrency investments for the first half of this year. The company's Bitcoin holdings decreased by 65 BTC in the second quarter, with a fair value of $557.1 million as of June 30.

The company held 9,477.16 BTC at the end of the second quarter, down from 9,542.16 BTC at the end of the first quarter. The fair value of its Cronos holdings remained unchanged at around 756.1 million tokens, but their value fell to $40.6 million from $68 million.

Trump Media & Technology Group also disclosed that a significant portion of its Bitcoin holdings was pledged as collateral for convertible notes and a Bitcoin options strategy.