Trump Media holds 14,139 BTC after $238M Q2 loss

Trump Media & Technology Group held 14,139 bitcoin worth $890.5 million as of July 31 after adding 4,661.84 coins in July, its second-quarter filing shows.

The Truth Social operator reported a $238.1 million net loss for the quarter ended June 30, with $190.4 million in unrealized losses across digital assets, pledged assets and equity securities, according to its Aug. 10 SEC filing. Revenue rose 89% to $1.67 million from $883,300 a year earlier, helped by advertising under a barter agreement, Truth+ Patriot Package subscriptions and management fees from Truth.Fi funds.

The company held 9,477.16 BTC at June 30, carrying a fair value of about $557.1 million against a cost basis of roughly $1.01 billion, plus 756.1 million CRO valued at $40.6 million. In July, it sold $159.6 million of equity securities invested in Bitcoin-related products and used the proceeds to buy Bitcoin directly, lifting its balance to approximately 14,139 BTC including pledged coins. The July 31 figure provides a firmer baseline than wallet movements alone, after onchain analysts earlier flagged large transfers to Crypto.com that the company's report cautioned did not prove completed sales.

Management said it plans a "more disciplined digital asset treasury management framework" aimed at retaining long-term crypto exposure while reducing volatility and making assets more productive. The company has pledged 4,260.73 BTC against convertible notes, worth about $250.5 million at June 30, and 2,077.34 BTC to support a Bitcoin options strategy. It also disclosed for the first time that it has placed some Bitcoin with third parties through lending, placement and yield arrangements, warning in its filing of counterparty credit, insolvency, liquidation and custody risks, including the possibility that counterparties rehypothecate the coins.

The strategy shift comes days after Trump Media terminated its proposed Trump Media Group CRO Strategy business combination on Aug. 7, abandoning a multibillion-dollar Cronos treasury vehicle planned with Crypto.com and Yorkville. The company becomes eligible Aug. 26 to sell up to 68,442,704 CRO over the following six months, and targets completion of its merger with fusion company TAE Technologies in the fourth quarter, subject to regulatory and closing conditions. Separately, Truth API launched Aug. 1 and has signed more than 10 customer agreements, though none of that revenue formed part of the Q2 figure.

Trump Media shares fell 8.03% to $9.39 on Monday, down 29% year to date. Bitcoin traded at $63,988, down 1.5% over 24 hours, as of the latest data. The Donald J. Trump Revocable Trust, of which Trump is sole beneficiary, held about 41.1% of TMTG's voting power as of Feb. 25, with Donald Trump Jr. serving as sole trustee.

This article is for informational purposes only and does not constitute investment advice.