Trump Media Hits $190M Paper Loss on Crypto Holdings

Trump Media and Technology Group, the parent company of Truth Social, reported a net loss of 238.1 million dollars for the second quarter of 2026. A massive chunk of this deficit, specifically 190.4 million dollars, came from paper losses on its crypto holdings and equity securities.

These accounting markdowns happen when the market value of digital assets dips below what the company paid for them. It is the second quarter in a row where crypto price swings have heavily impacted the company's balance sheet, following a similar 368.7 million dollar markdown in the previous quarter.

Despite the huge paper losses, the company actually narrowed its overall net loss from the 405.9 million dollars it lost in the first quarter. Still, its actual revenue remains low, bringing in just 1.7 million dollars for the quarter. Following the news, the company's stock, trading under the ticker DJT, dropped over eight percent to close at 9.39 dollars.

Looking ahead, interim CEO Kevin McGurn says the company is focusing on a planned merger with fusion energy firm TAE Technologies, which is expected to close in the fourth quarter. Trump Media is also moving away from some of its previous crypto plans, including ending a treasury partnership with Crypto.com.