Trump Media & Technology Group (DJT) 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.<\/p>\n
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.<\/p>\n
Trump Media held 9,542.16 bitcoin BTC$80,718.27<\/a> 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 a filing<\/a> with the SEC. That position is now worth around $770 million.<\/p>\n The company also held 756.1 million CRO$0.07093<\/a> with a cost basis of $113.9 million and a fair value of $53 million. Trump Media closed the purchase of $105 million in CRO<\/a> last year as part of a Crypto.com deal that tied the token to Truth Social and Truth+ rewards.<\/p>\n Trump 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.<\/p>\n A portion of the firm\u2019s bitcoin is locked up. Trump Media said 4,260.73 BTC, worth $289 million at quarter-end, served as collateral for convertible notes.<\/p>\n DJT also held covered call options on 4,000 BTC with a counterparty to hedge its exposure to the cryptocurrency\u2019s volatility. Those options require 2,000 BTC to be held as collateral with the counterparty.<\/p>\n