Trump Media Reports $20M Loss, Purchases $2B Bitcoin

According to Mars Finance, Trump Media, the parent company of the social platform Truth Social owned by Donald Trump, reported a $20 million loss for Q2 2025. Of this, about $15 million was related to legal fees associated with its merger with a SPAC (Special Purpose Acquisition Company). After the earnings report was released, the company's stock dropped by 3.8%.

Notably, the company has purchased $2 billion in Bitcoin, positioning itself as one of the top 5 Bitcoin holders globally. Trump Media also plans to issue a utility token linked to Truth Social and Truth+, and has submitted a digital asset ETF application. The review period has been extended to September 18, 2025.

Trump Media Group has invested $2 billion in Bitcoin and related securities.

Bitcoin Price Movement And Crypto Market Outlook

Meanwhile, the price of Bitcoin has retraced from $119,800 to $112,000 in the short term. CryptoQuant analysts noted that risk-off sentiment is increasing, alongside intensified institutional buying competition, leading to significant support in the $110,000–$113,000 range. If this level holds, Bitcoin could test $119,000–$122,000 again. On the contrary, failure to hold this range could lead to potential downside risks.

According to Glassnode, Ethereum's open interest has increased to nearly 40%, signaling a shift in investor focus towards ETH. Additionally, macro-economic indicators are heavily influencing the crypto market: ADP data in the U.S. missed expectations, causing Fed's rate cut probability to rise to 80.3% for September 2025, with gold prices climbing and VIX remaining low. This suggests that both the U.S. stock market and the crypto market may face new volatility. 

Investor Advice

4E advises investors to pay attention to the increasing link between crypto assets and macro policies. Investors should be cautious of potential market sentiment shifts and policy-driven short-term impacts.