Trump Media (DJT) Reports $190 Million Crypto Loss, Shifts Strategy

Trump Media & Technology Group (NASDAQ: DJT) will pivot away from its Bitcoin treasury model after reporting a $190 million paper loss on its crypto holdings. It currently holds 12,062 Bitcoins valued at nearly $755 million, following a decline in Bitcoin prices for over 10 months. The company's decision reflects a broader trend among digital asset treasury companies facing similar challenges. The impact on the crypto market could be significant if market fears lead to more selling, potentially affecting investor sentiment and prices.