Trump Media Sinks $238 Million into Crypto Debacle

Trump Media, the parent company of Truth Social, has reported a significant increase in quarterly losses. The company's crypto investments are largely to blame for this widening gap, as it lost $238 million last quarter compared to just $20 million in the same period a year ago.

This represents a 12-fold increase in losses over the course of a single year, with most of the damage coming from crypto assets that plummeted in value when investors became risk-averse. Meanwhile, Trump Media took in only $1.7 million in revenue during the same three months.