Trump Media cuts crypto losses, refocuses on Truth Social after $360M hit

Trump Media & Technology Group (TMTG), parent of Truth Social, is stepping back from its cryptocurrency ventures after losing $360.6 million in digital assets in early 2026. The company faced a $238.1 million net loss in Q2 due mainly to crypto markdowns, holding Bitcoin and CRO tokens now worth significantly less than before. TMTG ended its CRO token partnership and is shifting focus under new interim CEO Kevin McGurn to monetize Truth Social through paid features, moving away from risky crypto investments.