Trump Media & Technology Group’s Chief Financial Officer, Phillip Juhan, sold 18,817 shares in the company, valued at approximately $156,670, according to a recent securities filing. This move came shortly after the company reported its second-quarter earnings, which showed significant losses due to declining cryptocurrency prices.
The company’s second-quarter net loss was $238 million, with the majority of this figure attributed to non-cash losses associated with digital assets and equity securities. Other executives, including Chief Technology Officer Vladimir Novachki and interim CEO Kevin McGurn, also sold shares in the company.
Trump Media has heavily invested in cryptocurrencies, including partnerships with digital asset companies like Crypto.com. However, the recent decline in cryptocurrency values has significantly reduced the value of these assets, with Bitcoin experiencing a 47% year-over-year decline in value.
As of June 30, the company held approximately 9,477 units of Bitcoin with a fair value of around $557 million. This compares to the 9,542 Bitcoin units held by the company at the end of 2025, which had a fair value of $836 million.
Just days before releasing its earnings, Trump Media announced plans to realign its crypto strategy, including terminating its business combination with Crypto.com and Yorkville Acquisition. The company also plans to adjust its partnership with Crypto.com, pivoting from directly integrating Crypto.com’s prediction market tools into Truth Social.
Kevin McGurn noted during the company’s earnings call that these decisions represent a flexible approach in terms of capital allocation moving forward. Phillip Juhan has served as Trump Media’s CFO since 2021 and received total compensation of $14 million in 2024.
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Trump Media’s significant investment in cryptocurrencies has not yielded the expected returns, and the company is now looking to reassess its strategy. The recent decline in cryptocurrency values has resulted in substantial losses for the company.
The company’s holdings in Cronos, a digital currency offered by Crypto.com, have also seen a sharp drop in value, from approximately $68 million at the end of 2025 to around $40 million by the end of the second quarter, affecting the company’s financial situation.
President Donald Trump owns a 52% stake in Trump Media & Technology Group through a trust operated by his son Donald Trump Jr.. The company’s leadership is now looking to make adjustments to its crypto strategy, which may impact its future financial performance.
The company’s earnings results were published on August 10, and the recent securities filing provides further insight into the company’s financial situation. Trump Media’s partnerships with digital asset companies will likely be closely watched in the coming months as they work to address the challenges posed by the decline in cryptocurrency values.
Trump Media’s crypto losses are a significant concern for the company and its stakeholders.
