Trump Media Reports $361 Million Crypto Loss as Bitcoin Slumps
TL;DR Summary
Trump Media & Technology Group disclosed a $360.6 million loss on its cryptocurrency holdings for fiscal Q2, noting its Bitcoin stash fell to 9,477 BTC (about $557.1 million at June 30) from 9,542 BTC at end-March, with 4,260 BTC pledged as collateral against convertible notes and 2,077 BTC pledged for a Bitcoin options strategy. The company posted a net Q2 loss of $238 million on revenue under $2 million; DJT stock has declined about 46% in the past year to around $9.39, while Bitcoin traded near $64,260 on Aug. 11.
Topics:business#bitcoin#collateral#crypto-loss#finance#second-quarter-earnings#trump-media-and-technology-group
- Trump Media Reports $361 Million Crypto Loss Yahoo Finance
- As Trump Media scraps some businesses, it's doubling down on Truth Social and the president AP News
- Losses balloon at Trump Media the company behind Truth Social news.sky.com
- Traffic to Trump’s Truth Social Falls Sharply This Summer The New York Times
- Trump media company announces a massive loss and new turnaround effort Yahoo Finance
Reading Insights
Total Reads
0
Unique Readers
19
Time Saved
11 min
vs 12 min read
Condensed
96%
2,262 → 90 words
Want the full story? Read the original article
Read on Yahoo Finance