Trump Media’s Q1 loss widens to $406 million on bitcoin, CRO markdowns The loss was primarily driven by $244 million in unrealized losses on cryptocurrency holdings and an additional $108.2 million investment loss.
What to know: – Trump Media reported a Q1 net loss of $405.9 million on $871,200 in revenue, widening significantly from $31.7 million a year earlier. – The loss was primarily driven by $244 million in unrealized losses on cryptocurrency holdings and an additional $108.2 million investment loss. – As of March, DJT held 9,542.16 bitcoin (valued at $647.1 million) and 756.1 million Cronos (CRO) tokens (valued at $53 million)
Trump Media & Technology Group (DJT) reported a $405.9 million first-quarter net loss on $871,200 in revenue, widening from $31.7 million a year earlier as unrealized losses on its crypto holdings weighed on results. The parent company of Truth Social booked $244 million in unrealized losses on its cryptocurrency holdings. It also recorded a $108.2 million investment loss tied mostly to equity securities.
Trump Media held 9,542.16 bitcoin The company also held 756.1 million Trump Media reported $17.9 million in operating cash flow for the quarter, helped by the sale of previously purchased put options on pledged bitcoin and bitcoin-related securities. A portion of the firm’s bitcoin is locked up. Trump Media said 4,260.73 BTC, worth $289 million at quarter-end, served as collateral for convertible notes.