Trump Media & Technology Group shares fell 4% on Monday after the company confirmed it is retreating from its Bitcoin treasury strategy following $360.6 million in digital asset losses during the first half of 2026. Rival video platform Rumble rose 4% the same day, underscoring a divergence in how the market is pricing media companies with and without crypto exposure.
The pullback caps a rapid unwind. TMTG built a substantial Bitcoin position throughout 2025, acquiring 11,542 BTC for roughly $1.37 billion at an average price of $118,522 per coin. By June 30, the company held 9,477 BTC valued at about $557.1 million, down from $836 million earlier in the year. It also amassed 756.1 million CRO tokens, the native asset of Crypto.com, which were worth just $40.6 million at the end of June.
On August 7, TMTG, Crypto.com, and investment firm Yorkville formally terminated their proposed CRO Strategy deal and ETF partnership, citing unfavorable market conditions. The venture had aimed to create a publicly traded cryptocurrency treasury vehicle. Interim CEO Kevin McGurn described the digital asset treasury market as increasingly crowded and said staking had become less important for Crypto.com.