Trump Media, the parent company of Truth Social, reported a $405.9 million first-quarter net loss on $871,200 in revenue as unrealized losses on its crypto holdings, primarily driven by $244 million in losses, widened significantly from $31.7 million a year earlier.
The loss was primarily driven by $244 million in unrealized losses on cryptocurrency holdings and an additional $108.2 million investment loss. Trump Media reported a Q1 net loss of $405.9 million on $871,200 in revenue, widening significantly from $31.7 million a year earlier.
The loss was primarily driven by $244 million in unrealized losses on cryptocurrency holdings and an additional $108.2 million investment loss. As of March, DJT held 9,542.16 bitcoin and 756.1 million Cronos tokens . Trump Media & Technology Group reported a $405.9 million first-quarter net loss on $871,200 in revenue, widening from $31.7 million a year earlier as unrealized losses on its crypto holdings weighed on results.
The parent company of Truth Social booked $244 million in unrealized losses on its cryptocurrency holdings. It also recorded a $108.2 million investment loss tied mostly to equity securities.at the end of March, with a cost basis of $1.13 billion and a fair value of $647.1 million, the firm wrote in aTrump Media reported $17.9 million in operating cash flow for the quarter, helped by the sale of previously purchased put options on pledged bitcoin and bitcoin-related securities.
A portion of the firm’s bitcoin is locked up. Trump Media said 4,260.73 BTC, worth $289 million at quarter-end, served as collateral for convertible notes. DJT also held covered call options on 4,000 BTC with a counterparty to hedge its exposure to the cryptocurrency’s volatility. Those options require 2,000 BTC to be held as collateral with the counterparty.
Revenue rose 6% from $821,200 a year earlier. Media revenue was $810,100, while Truth. Fi generated $61,100 in management fees tied to ETF offerings. Quantum computing does not only pose a risk to up to $3 trillion in digital assets, it also threatens the security of banking systems, military communications, digital identities and more, Project Eleven’s report warns.
A new 110-page report from Project Eleven warns that more than $3 trillion in digital assets secured by elliptic curve cryptography could become vulnerable to quantum attacks within four to seven years.
Trump Media Truth Social Unrealized Losses Cryptocurrency Holdings Investment Loss Media Revenue Truth.Fi Project Eleven
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