Trump Media and Technology Group (DJT) saw its bitcoin holdings shrink during the second quarter of the year as falling crypto prices saddled the company with $360.6 million in losses in the first half of the year:
As of June 30, the company held 9,477.16 bitcoin (BTC) with a fair value of $557.1 million, down from 9,542.16 BTC at the end of March:
- Much of the losses on digital assets were unrealized:
- A significant portion of the company's bitcoin was pledged as collateral, with 4,260.73 BTC against convertible notes and another 2,077.34 BTC for its bitcoin options strategy:
The results came just days after Trump Media announced it was scaling back its crypto ambitions:
On Friday, Trump Media, crypto exchange Crypto.com, and Yorkville Acquisition mutually terminated their proposed business combination:
