Trump Media’s Q1 loss widens to $406 million on bitcoin, CRO markdowns
The loss was primarily driven by $244 million in unrealized losses on cryptocurrency holdings and an additional $108.2 million investment loss.
AI Summary
Trump Media reported a Q1 net loss of $405.9 million on minimal revenue of $871,200, driven primarily by $244 million in unrealized losses on cryptocurrency holdings and a $108.2 million investment loss. As of March, the company held 9,542.16 bitcoin (valued at $647.1 million) and 756.1 million Cronos tokens (valued at $53 million), with a significant portion of its bitcoin serving as collateral for convertible notes.