Trump Media and Technology Group, the company behind Truth Social, reported a $238 million net loss for the second quarter of 2026. The loss was driven largely by unrealized losses on its digital assets and equity securities.
🇺🇸BREAKING: Trump Media posts a STAGGERING $238M loss in Q2, 10x its loss from a year ago, shifts focus on Truth Social.
After one of its worst quarters ever, Trump Media is shifting its focus back to Truth Social, signing more than 10 customers, mostly high-frequency trading… pic.twitter.com/glfxXLX8iP
— Coin Bureau (@coinbureau) August 11, 2026
The company recorded $190.4 million in unrealized losses across its Bitcoin, pledged digital assets, and other securities during Q2. For the first half of the year, total crypto-related losses reached $360.6 million.
As of June 30, Trump Media held 9,477.16 Bitcoin, down from 9,542.16 BTC at the end of the first quarter. At the time, those holdings had a fair value of $557.1 million, compared to $836 million at the end of 2025.
Trump Media & Technology Group Corp., DJT
A large portion of that Bitcoin was tied up. The company had pledged 4,260.73 BTC as collateral for convertible notes and another 2,077.34 BTC for its Bitcoin options strategy.
Trump Media also held around 756.1 million Cronos tokens, unchanged in quantity but down in value. Their fair value fell from $68 million at end of 2025 to just $40.6 million by June 30.
Just days before the Q2 results were released, Trump Media, Crypto.com, and Yorkville Acquisition mutually ended their proposed business combination. The deal had been aimed at creating a publicly traded company to build a large Cronos token treasury.
The parties cited market conditions and shifting priorities. A separate partnership under which Crypto.com would have serviced planned Yorkville exchange-traded funds was also dropped.
Trump Media said it plans to revamp its digital asset treasury strategy. The new approach is meant to preserve long-term crypto exposure while managing volatility and making its balance sheet more productive.
The company is already using Bitcoin options to manage price swings and generate premium income. It has also deployed some Bitcoin through lending and yield-generating arrangements.
Trump Media flagged risks with the lending approach. Some counterparties may not be rated by major credit agencies and could default during downturns. If arrangements are unsecured, the company said it may be unable to recover assets if a counterparty becomes insolvent.
The company also said it plans to put more resources into Truth Social, Truth+, and its broader media business.
After a flat Q2, Trump Media moved quickly in July. The company sold Bitcoin-related securities worth $159.6 million and used the proceeds to buy Bitcoin directly.
By July 31, Trump Media reported holding approximately 14,139 BTC, including pledged Bitcoin, valued at about $890.5 million at the time.
Trump Media is majority controlled through a trust of which U.S. President Donald Trump is the sole beneficiary, with about 41.1% of voting power as of February 2025.
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