Finance10 August, 20262 min read
Trump Media Posts $238 Million Loss, Abandons Crypto And Online Betting Expansion
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Trump Media posted about $360 million crypto loss in H1, holding 9,477 BTC worth $557M. Terminated $6.42 billion Crypto.com/Yorkville crypto treasury deal and pulled Cronos plan.
Losses and pivot
Trump Media & Technology, the company behind the Truth Social platform, posted a $238 million loss in the three months through June and said it would ditch new business lines to refocus on its social media mission. In the same earnings update, new chief executive Kevin McGurn said the company would largely abandon a yearlong effort to expand into industries including online betting and crypto, while it pursued its social media focus.
Forbes reported that Trump Media closed down 8% at $9.39 shortly before the company reported its second quarter earnings, and it tied the quarter’s losses to $190.4 million in unrealized losses on digital assets and equity securities. The company’s financial picture also included a debt load of $1 billion from special convertible notes that does not come due until 2028, with lenders having an option to demand cashing out in November.
Crypto losses and holdings
Bloomingbit said Trump Media posted a $360 million loss on cryptocurrency investments in the first half of this year, with its Bitcoin holdings standing at 9,477.16 BTC as of June 30 and valued at $557.1 million on a fair-value basis. CoinDesk put the first-half crypto losses at $360.6 million and said the company owned 9,477.16 BTC with a fair market value of $557.1 million as of June 30, down from 9,542.16 BTC at the end of March.
Both outlets described Cronos holdings as remaining at approximately 756.1 million tokens while their fair value fell to $40.6 million from $68 million at the end of 2025. CoinDesk also reported that 4,260.73 BTC were pledged as collateral for convertible notes and another 2,077.34 BTC were pledged for its bitcoin options strategy as of June 30.
Truth API and fallout
Bozeman Daily Chronicle said Trump Media’s new Truth API service offers early access to Wall Street trading firms to top posters on the Truth Social platform, charging $60,000 to $100,000 a month and already signed up 10 customers.
In the same report, McGurn said the company would “say no to things or change course as warranted,” and it framed the Truth API effort as part of a broader refocus on its social media mission.
CoinDesk said the results arrived days after Trump Media and Crypto.com scrapped plans for a publicly traded CRO treasury company and abandoned a separate ETF servicing partnership, with the companies citing "market conditions and the shift in business and stakeholder priorities."
Forbes added that Truth API launched on Aug. 1 and said the next earnings report may reveal how well the service bolsters Trump Media’s limited revenue streams, while it noted the company did not introduce any new revenue drivers during its second quarter.