Trump Media Seeks to Revive Crypto Strategy Amid $238M Loss
Trump Media, the company behind Truth Social and Truth+, has announced plans to revamp its crypto treasury strategy after suffering a $238 million net loss in Q2. The company reported unrealized losses of $190.4 million across its digital assets, pledged digital assets, and equity securities.
To address these losses, Trump Media aims to preserve its long-term digital asset exposure while managing volatility and improving the productivity of its balance sheet. This new framework will also direct more resources towards Truth Social, Truth+, and other parts of the media business.
Trump Media's Bitcoin holdings were relatively unchanged during Q2, but the company stepped up its direct Bitcoin exposure in July by purchasing additional BTC. As of June 30, Trump Media held approximately 9,477.16 BTC, which is worth around $890.5 million at current prices.