Trump Media Sees Massive Loss as Crypto Holdings Plummet

Trump Media & Technology reported a $238 million net loss for the second quarter of this year, more than ten times its loss from Q2 '25. The company's per-share loss widened to 86 cents from 8 cents in the same period last year.

The losses were largely due to unrealized paper losses on the falling value of the company's Bitcoin and Cronos crypto token holdings. Excluding these losses, operating losses still grew to $164 million from $44 million a year earlier.

New CEO Kevin McGurn said the company is refocusing on its core social media platform and scaling back last year's diversification efforts into unrelated businesses such as crypto and online betting. The planned nuclear fusion business is an exception and will continue, with the goal of finalizing a merger with TAE Technologies by the end of the year.

The company has also launched Truth API, a paid service that charges Wall Street trading firms up to $100,000 per month for early access to posts from top Truth Social users, including former President Trump. McGurn estimates this revenue stream could bring in $7 million to $12 million annually.