Impairment of cryptocurrency and equity assets led to a $406 million loss for Trump Media in the first quarter.

CoinFeed reported on May 9th that, according to BeInCrypto, Trump Media & Technology Group (TMTG) reported a net loss of $405.9 million in the first quarter, primarily dragged down by unrealized losses on digital assets and equity securities, which amounted to $368.7 million. Additionally, $11.8 million in stock-based compensation expenses and $11.5 million in interest accrual were also recorded as losses. The company's crypto treasury has a cost basis of $1.24 billion and a current valuation of $821.9 million, resulting in a paper loss of approximately $423 million. The treasury holds 9,542 Bitcoins, valued at $767 million, with an average cost of $118,529 per Bitcoin. Bitcoin's price fell by approximately 22% in the first quarter, marking its worst quarter since 2018. The company also holds 756 million Cronos, valued at $54 million.