Trump Media Q3 Loss $54.8M, BTC Treasury $1.23B
Trump Media and Technology Group reported a net loss of $54.8 million for Q3 2025, compared with $19.3 million a year earlier, on revenue of $972,900. Its stock is down over 61% year-to-date, trading around $13.10. The company holds 11,542 Bitcoin (≈$1.23B) and 746 million Cronos (≈$134M) in its crypto treasury. It also generated $15.3 million from Bitcoin options and booked $33 million in unrealized Cronos gains.
In May, Trump Media raised $1.5 billion through a stock sale and $1 billion via convertible notes to fund crypto acquisitions. It launched a $1 billion Cronos investment vehicle with Crypto.com. Its digital assets grew from $274 million in March to $3.1 billion by September 30. Meanwhile, Binance CEO CZ denied any business ties with Trump after a surprise presidential pardon, underscoring ongoing regulatory uncertainty. Traders should watch how the expanding Bitcoin treasury and extended Cronos holdings influence market sentiment and price dynamics.
Neutral
In the short term, Trump Media’s large Bitcoin treasury may support demand and underpin price stability for BTC. However, persistent Q3 losses and a 61% drop in the stock reflect investor skepticism, which could weigh on market sentiment. Regulatory uncertainty highlighted by Binance CEO CZ’s denial adds potential volatility. Overall, bullish factors from asset accumulation are balanced by bearish risks from financial underperformance and compliance concerns, resulting in a neutral impact.