TLDR
Trump Media posted a $238.1 million net loss for the second quarter
Bitcoin holdings rose to about 14,139 coins by the end of July
The company sold $159.6 million in Bitcoin related securities to buy Bitcoin directly
Trump Media ended its planned Cronos treasury venture with Crypto.com
Revenue grew 89% to $1.67 million during the quarter
Trump Media reported a $238.1 million net loss for the second quarter on Aug. 10. Falling values of digital assets and securities weighed on the results.
The loss came mostly from unrealized losses on investments. Combined unrealized losses across digital assets, pledged assets, and equity securities totaled $190.4 million.
Trump Media also recorded $116.7 million in realized and unrealized losses tied directly to digital assets. Investment losses on securities added to that total.
Despite the loss, revenue increased during the quarter. Revenue rose 89% to $1.67 million, up from $883,300 a year earlier.
The gain came from advertising deals, subscriptions to the Truth+ Patriot Package, and management fees from Truth.Fi funds. Lower advertising revenue at Truth Social partly offset the increase.
Bitcoin Holdings Jump After Quarter End
Trump Media held 9,477.16 BTC at the end of June. That holding carried a fair value of about $557.1 million against a cost basis near $1.01 billion.
The company also held about 756.1 million CRO tokens valued at $40.6 million. That token is tied to the Cronos network and Crypto.com.
The Bitcoin balance changed fast after the quarter ended. Trump Media sold $159.6 million worth of equity securities linked to Bitcoin products in July.
The company used that money to buy Bitcoin directly. By July 31, Trump Media held about 14,139 BTC, worth around $890.5 million.
Some of that Bitcoin is not fully free to trade. The company has pledged 4,260.73 BTC to back convertible notes, with restrictions lasting until May 29, 2028.
Another 2,077.34 BTC is pledged to support an options strategy. Trump Media also said it has placed some Bitcoin with third parties through lending and other yield deals.
The company warned that these arrangements carry risks. Those risks include counterparty credit issues, insolvency, and custody problems, and the assets do not carry government insurance protection.
Cronos Deal Ends, Merger Moves Forward
Trump Media ended its planned Cronos treasury deal on Aug. 7. The plan had involved a large treasury vehicle built with Crypto.com and Yorkville.
The company’s existing CRO holdings remain separate from that canceled deal. Trump Media becomes eligible on Aug. 26 to sell up to 68,442,704 CRO tokens over the following six months.
Trump Media is also working on a merger with fusion company TAE Technologies. The company is targeting the fourth quarter of 2026 for the deal to close.
The timeline depends on regulatory approval and other closing conditions. Trump Media plans to file a Form S-4 covering the transaction.
The company is trying to grow revenue outside its investment holdings too. Its Truth API service launched on Aug. 1 and has already signed more than 10 customer agreements.
Trump Media said the service is already generating revenue. That income arrived after the quarter ended, so it was not part of the Q2 results reported this week.
