Trump Media Reports $238M Loss Amid Crypto Crash
Trump Media and Technology Group reported a $238 million loss in the second quarter of 2026, primarily due to the collapse of the cryptocurrency market, while also expanding its Truth API service for high-frequency trading firms.
Consensus
- Trump Media and Technology Group reported a net loss of $238 million for the second quarter of 2026.
- The loss was primarily caused by the decline in the cryptocurrency market.
- The company's quarterly revenue increased by 89% compared to the same period in the previous year.
- Trump Media is developing and expanding the Truth API service.
- Truth API provides high-frequency trading firms with early access to posts by Donald Trump and other popular users on Truth Social.
- Clients of Truth API pay between $60,000 and $100,000 per month.
- The company has secured over 10 contracts with high-frequency trading firms.
- Trump Media's assets are valued at $2 billion.
- The company's operating expenses increased by 275% year-on-year, exceeding $165 million.
Points of divergence
- The net loss for the second quarter of 2024 was $20,001, which is inconsistent with the data in the Komersant report, which does not mention this figure. — vedomosti
- Kevin McGurn, the new CEO, stated that after a year of efforts in online betting and cryptocurrency, the company will focus on social networks. — vedomosti
- The company lost nearly $190 million due to write-downs of digital assets and securities. — kommersant
Coverage (2 sources)
- Trump Media reported $238 million losses due to cryptocurrency market decline — Ведомости
- Trump Media reported $238 million losses due to cryptocurrency decline — Коммерсантъ