Trump Media Suffers $360M Crypto Losses Amid Bitcoin Price Decline

Trump Media and Technology Group's (DJT) crypto holdings took a hit in Q2 as plummeting cryptocurrency prices led to significant losses for the Truth Social parent company. The company's bitcoin holdings shrunk by 65 units, from 9,542.16 BTC at the end of March to 9,477.16 BTC on June 30, with a fair value of $557.1 million.

The decline in bitcoin holdings is part of a larger trend for Trump Media, which reported $360.6 million in crypto-related losses in the first half of the year. The company's holding of Cronos (CRO) tokens remained unchanged at 756.1 million tokens, but their fair value fell to $40.6 million from $68 million at the end of last year.

A significant portion of Trump Media's bitcoin was tied up as collateral, with 4,260.73 BTC pledged against convertible notes and another 2,077.34 BTC pledged for its bitcoin options strategy as of June 30. The news comes just days after Trump Media pared back parts of its crypto ambitions.