Trump Media & Technology Group Corp. (NASDAQ:DJT) saw its shares drop 3.81% to $16.92 on Friday after posting a $20 million net loss for the second quarter ended June 30.
Quarterly Loss and Market Reaction
The loss, reported alongside only $883,000 in quarterly revenue, highlights the company’s struggle to monetize its core Truth Social and Truth+ platforms, even as it embarks on ambitious digital asset initiatives.
The company ended the quarter with a sharp increase in operational costs, with research, legal, and administrative expenses outpacing modest revenue gains.
Utility Token and Patriot Package Moves
To diversify revenue streams, Trump Media disclosed plans for a utility token tied to subscriber engagement—specifically through its new Truth+ Patriot Package premium tier, now in public beta.
The company said future Patriot Package subscribers will accumulate "gems," a digital rewards system that, according to filings, "will eventually be tied to a utility token on both Truth Social and Truth+." This marks a significant shift, aligning DJT with firms seeking to blend user engagement rewards with blockchain-based assets.
See Also: Meta Plans Data Center Asset Sale Worth Nearly $2 Billion To Fund Next Phase Of AI Development
Bitcoin Strategy Gains Spotlight
Trump Media's foray into digital assets is underscored by its aggressive bitcoin treasury strategy. DJT ranks sixth among public U.S. companies in Bitcoin (CRYPTO: BTC) holdings, with 18,430 Bitcoin now on its balance sheet.
This places it behind MicroStrategy Inc. (NASDAQ:MSTR) and Tesla Inc. (NASDAQ:TSLA), both major corporate bitcoin holders. The company also recently completed a $1.4 billion PIPE offering and $1 billion in convertible notes, earmarking proceeds for further bitcoin acquisition and working capital.
Broader Industry Impact and Leadership Context
The high-profile move comes on the heels of President Donald Trump's executive order establishing a Strategic Bitcoin Reserve, held at roughly 200,000 BTC and backed by government-seized assets.
Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong recently said the order "instantly legitimized" bitcoin, prompting other G20 nations to explore their own reserves.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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