Trump Media’s Q1 loss widens to $406 million on bitcoin, CRO markdowns
CoinDesk
Trump Media reported a $406 million first-quarter loss, driven largely by significant unrealized losses on its bitcoin and CRO cryptocurrency holdings.Summary
Trump Media & Technology Group (DJT), the parent company of Truth Social, reported a net loss of $405.9 million for the first quarter, significantly exceeding its $31.7 million loss from the previous year. The decline was largely attributed to $244 million in unrealized losses on bitcoin holdings and $108.2 million in investment losses related to equity securities and its CRO token stake. Despite the widening losses and meager revenue of $871,200, the company maintained an operating cash flow of $17.9 million, partly supported by the sale of put options on its bitcoin assets.
(Source：CoinDesk)