According to CoinMeta, and as reported by The Wall Street Journal, Trump Media & Technology Group recorded a net loss of $238.1 million in the second quarter, which is more than ten times the $20 million loss in the same period last year. The loss was mainly due to non-cash unrealized losses on digital assets, totaling $190.4 million. The company's revenue for this quarter was $1.7 million, an increase of 89% compared to the same period last year. Kevin McGinn, the interim CEO of Trump Media, stated that the company will terminate its multi-billion-dollar cryptocurrency treasury agreements with Crypto.com in order to focus on dealing with the increasingly competitive market. Trump Media's total assets amount to $2 billion, of which about $1.9 billion is in cash and digital assets. Legal expenses amounted to $25.6 million, mainly related to outstanding matters. Adjusted EBITDA shows a loss of $223.5 million over three months.