Trump Media & Technology Group reports a sharp increase in Q2 losses driven by unrealized cryptocurrency asset declines.
Trump Media & Technology Group reported a second-quarter net loss of $238.1 million, widening from $20 million a year earlier. The company attributed the loss largely to unrealized declines in its cryptocurrency holdings during the quarter, as investors retreated from riskier assets amid rising U.S. interest rates and geopolitical uncertainty.
Revenue for the quarter rose to $1.7 million from $0.9 million in the same period last year. The company’s Truth Social platform launched Truth API on August 1, securing over 10 customer agreements for the data feed, which offers real-time access to influential accounts for up to $100,000 per month.
The results reflect ongoing challenges in monetizing the platform while navigating volatile crypto markets. No immediate market reaction was disclosed.