Trump Media Books $190 Million Paper Loss Across Crypto and Equities
Trump Media & Technology Group (DJT) posted a $238.1 million net loss for the second quarter of 2026, with unrealized markdowns on its crypto and equity holdings accounting for most of the shortfall.
The Truth Social parent narrowed its deficit from the $405.9 million loss recorded in the first quarter. Non-cash items again dominated results, as the company reported just $1.7 million in revenue against a $223.5 million adjusted EBITDA loss.
Crypto Markdowns Drive the Quarterly Loss For Trump Media
The bulk of the loss stemmed from $190.4 million in unrealized losses. This included digital assets, pledged digital assets, and equity securities held on the balance sheet.
Accounting rules require companies to mark down holdings when prices fall below their carrying value. That mechanism turned Trump Media's crypto exposure into the dominant line item.
The result marks a second straight quarter shaped by digital asset volatility. In the previous filing, similar markdowns reached $368.7 million.
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