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Trump Media & Technology Group reported a second-quarter net loss of $238.1 million, up from roughly $20 million in the same period a year earlier, with unrealized losses on its cryptocurrency holdings driving most of the increase.
The Truth Social operator, founded by U.S. President Donald Trump, posted $1.7 million in revenue for the quarter ended June, against $0.9 million a year prior.
The results coincided with the company's disclosure that Truth API, a licensed data feed launched August 1, had already signed more than 10 customer agreements.
Digital assets weigh on second-quarter results Cryptocurrency positions pressured Trump Media through the April-to-June quarter. Investors pulled away from riskier assets during the period amid uncertainty over U.S.
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