Trump Media & Technology Group posted a net loss of more than $238 million in the second quarter of 2026, driven largely by falling crypto values. The Truth Social parent's bitcoin holdings slipped to 9,477 BTC by June 30, and it scrapped a planned Cronos treasury venture with Crypto.com days earlier.
Trump Media & Technology Group posted a net loss of more than $238 million in the second quarter of 2026. That loss dwarfed the almost $20 million the company lost in the same period a year earlier.
The company attributed more than $190 million of the drop to declines in digital assets, digital assets pledged and equity securities. Bitcoin and Cronos, the two cryptocurrency positions Trump Media holds, both lost value during the quarter.
Bitcoin position shrinks in the second quarter
Trump Media held 9,477.16 bitcoin worth $557.1 million as of June 30, down from 9,542.16 BTC at the end of March, a decline of 65 BTC during the quarter. The position's fair value fell to $557 million from $836 million at the end of 2025.
A large share of that bitcoin was tied up as collateral, however. Trump Media, majority owned by the Donald J. Trump Revocable Trust, had 4,260.73 BTC pledged against convertible notes and another 2,077.34 BTC pledged for its bitcoin options strategy as of June 30.
Cronos holdings and CRO treasury plan scrapped
Trump Media's Cronos holdings, linked to Crypto.com, stayed unchanged at roughly 756.1 million tokens, but their fair value fell to $40.6 million from $68 million at the end of 2025. The results landed days after Trump Media, Crypto.com and Yorkville Acquisition mutually terminated a plan to build Trump Media Group CRO Strategy, a proposed publicly traded company centered on a CRO treasury.
The companies also abandoned a related deal under which Crypto.com would have serviced planned Yorkville America exchange-traded funds. Yorkville America said its other ETF plans remain unchanged.
Truth Social revenue rises as costs climb
Trump Media's $1.7 million in quarterly revenue mostly came through ad services on Truth Social, an 89% increase from the year-ago period. But quarterly operating expenses of more than $165 million were roughly 275% higher year over year.
During the company's first-ever earnings call, CFO Phillip Juhan said: "Our operating expenses are largely impacted by the price volatility of digital assets."
TMTG's Truth API, which offers faster access to Trump's Truth Social posts, has signed more than 10 customer agreements to date with clients that are primarily high-frequency trading firms. Those clients pay $60,000 to $100,000 a month for access.
Trading involves risk.
Risk Disclaimer
