Trump Media & Technology Group, the parent company of Truth Social, reported a record net loss of $238 million in Q2 - up sharply from $20 million in the same period last year.
The biggest factor wasn't operating costs, but non-cash losses of more than $190 million, largely tied to digital assets, collateral, and securities. During the first half of the year, the value of the company's Bitcoin and Cronos (CRO) holdings fell by more than 33%, contributing to a total crypto-related loss of around $361 million.
Despite the headline loss, the company continues to grow:
🔼 Q2 revenue increased 89% to nearly $2 million
⌛ Total assets now stand at approximately $2 billion
The report is another reminder that holding digital assets on a corporate balance sheet can significantly impact financial results - even when no assets are sold. As more public companies adopt crypto treasury strategies, market volatility will continue to play a major role in quarterly earnings.