Trump’s media and crypto firm just posted a $238 million quarterly loss—here’s where those losses came from

Even President Donald Trump’s media company couldn’t escape the Bitcoin bear market. In the second quarter of 2026, Trump Media & Technology Group, the company behind businesses such as Truth Social and prediction market platform Truth Predict, reported a $238 million quarterly loss, according to its most recent quarterly report. More than $190 million came from declines in the value of the company’s Bitcoin, other digital assets, and stock holdings, rather than cryptocurrency sales—meaning the company primarily incurred paper losses that would be reversed if the crypto market bounces back.

Trump Media began primarily as the corporate entity behind Truth Social, which launched in 2022. Three years later, amid record highs for Bitcoin and other digital assets, it broadened into a crypto-focused holding company. As part of that push, it struck partnerships with outside firms, including Singapore-based Crypto.com, to build out its digital-asset strategy. By the end of June, Trump Media held roughly 9,477 Bitcoin, valued at approximately $557 million. It also held more than 756 million Cronos tokens, the cryptocurrency linked to Crypto.com’s Cronos blockchain, worth about $40 ...