Trump Media & Technology Group recorded a second-quarter net loss that ballooned to $238.1 million.
The figure marks more than a tenfold jump from the $20 million loss in the same period last year, reports The Wall Street Journal.
Most of the widening stemmed from non-cash unrealized losses totaling $190.4 million on digital assets, pledged digital holdings and equity securities.
The company generated $1.7 million in revenue during the quarter, an 89 percent rise from $883,300 a year earlier.
TMTG interim CEO Kevin McGurn said on Friday that the company is terminating a multibillion-dollar cryptocurrency treasury agreement with Crypto.com (CRO), reported Axios.
McGurn said the firm “wanted to get focused” amid the increasingly crowded digital asset treasury market.
Trump Media ended the period with $2.0 billion in total assets, including roughly $1.9 billion in financial holdings such as cash, investments, and digital assets.
Legal costs reached $25.6 million, tied largely to legacy matters now mostly resolved.
The firm operates Truth Social and has shifted toward holding volatile cryptocurrency as part of its treasury strategy in recent periods. McGurn also said the company now looks to efficiently monetize Truth Social’s audience and data while finalizing an all-stock merger with TAE Technologies valued at more than $6 billion.
Adjusted EBITDA showed a $223.5 million loss for the three months ended June 30.
Earlier quarters reflected even steeper shortfalls, including $405.9 million in the first quarter of 2026.
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