Trump Media and Technology Group (DJT) reported a $54.8 million net loss for its third quarter, marking their third consecutive quarterly loss, according to their November 7th announcement. High legal expenses and non-cash losses from digital assets are driving the decline. DJT faced significant legal costs during the quarter, totaling $20.3 million, mainly due to the lengthy merger process with a special purpose acquisition company (SPAC). This legal pressure combined with non-cash losses of $54.1 million, stemming from changes in the fair value of their crypto holdings, unrealized losses on securities and options, stock-based compensation, and depreciation, contributed to this financial setback. Despite these losses, the company reported $15.3 million earned from Bitcoin-related option premiums during the quarter. This suggests some positive results from its digital asset strategy. DJT currently holds around 15,000 BTC worth approximately $1.5 billion, representing a portion of their $3.1 billion asset portfolio which also includes cash, short-term investments, and trading securities. Following this earnings report, shares in Trump Media dropped over 3% to $12.90, extending a decline of nearly 25% over the past month and more than 62% year-to-date. Analysts note that the stock’s volatility reflects concerns about the company’s ability to generate consistent profits. CEO Devin Nunes emphasized that recent financial assets are now generating income, highlighting a second consecutive quarter of positive operating cash flow. The company plans to pursue mergers and acquisitions to acquire strategic assets. During the third quarter, DJT made an investment of $50 million in cash and $47 million in stock into 684 million CRO tokens from Crypto.com, strengthening their partnership. This move will see the integration of CRO rewards on Truth Social and the creation of Trump Media Group CRO Strategy Inc. to manage these holdings with Crypto.com and Yorkville Acquisition Corp. The company aims to establish its own publicly traded CRO treasury company, reflecting a strategic move to grow Truth Social into a broader crypto-focused media ecosystem. Trump family’s continued involvement in digital assets is evident through ventures like World Liberty Financial (WLFI), a decentralized finance project, and American Bitcoin Mining. These initiatives, combined with their significant investment of over $1 billion in various crypto projects, highlight the Trump family’s growing presence in the digital asset space.