Trump Media Discloses Crypto Balance Sheet: $360 Million Loss and Major Canceled Projects

Trump Media reported a loss of $360.6 million in the first half of the year due to volatility in cryptocurrency markets, while its Bitcoin (BTC) reserves also saw a decline.

Trump Media and Technology Group (DJT), the parent company of the Truth Social platform, shared the latest status of its cryptocurrency assets by publishing its financial reports for the second quarter. According to the data released by the company, the digital asset portfolio was significantly affected by price declines in the market, and the total loss was recorded as $360.6 million.

As of June 30, the amount of Bitcoin (BTC) held by the company was recorded as 9,477.16 units. This figure represents a decrease of 65 units compared to the level of 9,542.16 units at the end of March. The total market value of current reserves stands at approximately $557.1 million during the reporting period.

Trump Media Takes a Step Back in Crypto Strategy

While the amount of Cronos (CRO) held by the company remained stable at 756.1 million units, the market value of these assets fell from $68 million to $40.6 million. Additionally, a significant portion of the company’s Bitcoin (BTC) assets is being used as collateral in financial operations. According to the data, 4,260.73 BTC have been pledged for convertible debt notes, and 2,077.34 BTC have been pledged as part of option strategies.

The company, indirectly owned by Donald Trump and managed by his son Donald Trump Jr., has abandoned some of its ambitious plans in the crypto space. Trump Media announced that it has terminated its partnership with Crypto.com and Yorkville Acquisition. The reason for canceling the plan to establish a public company named “Trump Media Group CRO Strategy” was cited as shifting business priorities and current market conditions.