Trump Media & Technology Group reported a $238 million second-quarter loss while its controlled Bitcoin holdings moved ahead of Tesla.
The loss was more than ten times the deficit reported in the same period of 2025. The company attributed the decline mainly to falling cryptocurrency prices.
Trump Media Moves Ahead of Tesla in Bitcoin Rankings
Bitcointreasuries.net lists Trump Media with about 12,062 BTC under its control, worth $774.6 million on August 11. That total placed the company ahead of Tesla, which holds 11,509 BTC and has kept its position unchanged for years.
Top 16 publicly traded firms with Bitcoin holdings. Source: BitcoinTreasuries.net
The ranking moved Trump Media into 12th place among publicly traded companies holding Bitcoin.
However, the company’s Form 10-Q showed about 14,139 BTC as of July 31. That figure includes Bitcoin committed to other parties, not only coins fully controlled by the company.
Bitcointreasuries.net excluded 2,077 BTC used as collateral in a covered-options strategy. The filing states that the counterparty “can rehypothecate at their sole discretion” those coins and any Bitcoin premiums received.
Bitcoin pledged against Trump Media’s $1 billion convertible notes remains included because the company still recognizes that collateral as its asset.
Crypto Prices Weigh on Quarterly Results
The $238 million second-quarter loss followed a $406 million first-quarter loss earlier in 2026. Bitcoin had fallen below $70,000 after trading above $126,000 in October 2025.
Accounting rules require Trump Media to mark its cryptocurrency holdings to market, regardless of whether the assets are sold.
Trump Media reported $1.7 million in revenue, up 89% from the previous year. Total assets reached about $2 billion, including approximately $1.9 billion in financial assets.
Those assets included cash, short-term investments, and roughly $1.2 billion in Bitcoin and Bitcoin-related holdings. The company also carries $1 billion in convertible notes due in 2028.
Truth API Expands as Company Refocuses on Social Media
Interim chief executive Kevin McGurn said Truth API charges between $60,000 and $100,000 monthly. The service delivers posts from major Truth Social accounts to institutional traders faster than the public receives them.
More than 10 customers have signed up since the service launched in early August, with most identified as high-frequency trading firms.
Kathleen Clark of Washington University School of Law said the arrangement amounts to selling privileged access to information about the President’s actions.
McGurn rejected that characterization, saying licensed real-time public data through commercial APIs is established across technology and financial information companies.
He said Trump Media will refocus on social media after exploring online betting and crypto markets, calling the move a “disciplined choice.”
The company dropped a Crypto.com prediction-market plan for Truth Social. It is still pursuing its merger with TAE Technologies, which McGurn expects to close by year-end.
